Twitter Invests $70 Million In Music Service SoundCloud: Report

Twitter Inc has invested about $70 million in Berlin-based song carrier SoundCloud, technology internet site Re/code mentioned mentioning human beings familiar with the deal.

Twitter confirmed the funding, however did no longer provide any economic info.

in advance this 12 months we made an investment in SoundCloud thru Twitter Ventures to help help a number of our efforts with creators,” Twitter leader government Jack Dorsey said.

Soundcloud, a platform that allows people to upload and proportion music and other audio documents,also confirmed that Twitter had made the funding.

Twitter’s investment changed into a part of a investment spherical anticipated to be within the range of $100 million, which might cost SoundCloud at about $700 million, the Re/code report said.

The microblogging website has previously tried to make a foray into tune with the launch of Twitter musicin 2013, which become closed a year later. on the time, the employer stated that it’d look for new ways tobring music based content to the carrier.
© Thomson Reuters 2016

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story first published on: June 15, 2016 12:30 (IST)

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