With rumors circulating the past few weeks it is now certain that Apple has indeed purchased LaLa. LaLa currently provides a music streaming service which offers 8 million songs. In comparison to Apple’s iTunes service which offers 11 million songs for download at roughly 99 cents per track, LaLa has risen as a major contender to the mega retailer due to its low cost of 10 cents per track which allows the user to stream a song for an unlimited number of plays from any computer with an internet connection. Couple that with a soon to be released iPhone app and you’ve got yourself an incredible service. In today’s market LaLa is one of the few retailers providing a unique business model which not only puts money into the hands of artists and record labels, it creates an effective way of spreading the music quickly throughout the web via an embeddable music player and word of mouth.

Details of the acquisition have not been made public yet and many are still uncertain of Apple’s plans with the newly purchased company.