One year after raising an undisclosed amount of funding from Index Ventures, Last.fm has hit the jackpot. The $280 million sale to CBS marks another major Web 2.0 exit and the first big one out of Europe. For Index, it's more evidence the firm is head and shoulders above other homegrown firms.

The Deal's Carolyn Murphy talked to Neil Reimer, an Index Venture general partner and a Last.fm director, about the sale. He declined to discuss terms of the firm's investment, only to say Index was the sole venture investor. He added, "There are not a lot of Web 2.0 businesses that have ever crossed over into a mainstream user-base and clearly with this number, these guys are well into that territory," Reimer said. "I think that's what's attractive to CBS."

Below is a picture of the Last.fm crew taken last year. Imagine how wide their smiles will be at the pub tonight:

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