Twitter eyes music-sharing service SoundCloud

The Twitter logo on the front of the New York Stock Exchange on November 7, 2013
The Twitter logo on the front of the New York Stock Exchange on November 7, 2013

Twitter is mulling plans to buy the German-based music-sharing service SoundCloud to fuel growth at the social network, the news site Re/code reported Monday.

The move would be a new effort by Twitter to get back into music after a failed attempt last year to launch a music-finding service.

The report suggested that such a deal, if consummated, would be expensive for Twitter, but would add a company with a customer base of 250 million, roughly the same size as that of the messaging platform.

SoundCloud recently raised some $60 million in venture capital, which would give the startup a value of some $700 million according to The Wall Street Journal.

Neither company has commented on the report.


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Citation: Twitter eyes music-sharing service SoundCloud (2014, May 19) retrieved 21 February 2020 from https://phys.org/news/2014-05-twitter-eyes-music-sharing-soundcloud.html
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