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Report: Twitter considering purchasing Soundcloud music-sharing service

By Agence France-Presse
Monday, May 19, 2014 16:14 EDT
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The Twitter logo on the front of the New York Stock Exchange on Nov. 7, 2013 [AFP]
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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.

[Image via Agence France-Presse]

Agence France-Presse
Agence France-Presse
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