Lala had been struggling and the CEO recently announced that prospects of turning a profit in the near future were slim to none. Lala has an 8 million deep song library and allows users to stream unlimited for 10 cents a track or purchase the track for $0.79.
The new purchase will allow for Apple to add full-length streaming to iTunes instead of the current 30-second clips and could even lead to a streaming radio service for the platform.
Lala and similar service iLike currently partner with Google to allow for quick discovery of music via the search engine.
Apple has $31.1 billion in cash and likely could purchase Lala for under $500 million.
Written by: Andre Yoskowitz @ 5 Dec 2009 0:58
