Myspace officially pulled the plug on the social music service today, putting an end to what once was hailed as the most popular social music service (hat tip to hypebot). iLike was one of the first startups to offer a combination of free music streaming and social networking, which helped it to gather some 55 million registered users by the time it was bought by Myspace in 2009. However, its revenue never added up, and now it is joining Napster, Lala, Imeem and others in digital media heaven, proving once again that making money with music online is really, really hard.

iLike launched as a standalone service in 2006, initially focusing on a combination of a web service and an iTunes sidebar. In early 2007, it debuted as one of the first music apps on Facebook, and soon attracted millions of new users per month. What…

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