Twitter eyes music-sharing service SoundCloud: report
PUBLISHED ONMay 20, 2014 4:40 AM
WASHINGTON - 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 US$60 million (S$75.07 million) in venture capital, which would give the startup a value of some US$700 million according to The Wall Street Journal.
Neither company has commented on the report.
Re/code said the deal could appeal to SoundCloud by giving the service easier ability to deliver revenue-generating ads along with its music streams.
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