Twitter plans to buy SoundCloud
Is Twitter plans to buy the so-called YouTube of audio SoundCloud? According to Recode “Twitter may try to buy its way out of its growth problem by making another move into music. The company is considering a deal to acquire SoundCloud, the music and audio-sharing company, according to people familiar with both companies.”
American media website Cnet says “There are two obvious reasons Twitter might want to buy a company like the privately held SoundCloud. First is Twitter’s longstanding desire to get closer to the music industry. Its attempts so far, most notably with its own #Music app, have largely been unsuccessful. Second, SoundCloud is said to have 250 million users around the world, which could be a boon to Twitter as the social-networking company seeks to boost its growth.”
Both SoundCloud and Twitter declined to comment about the reports saying they don’t address rumors. SoundCloud recently raised some $60 million in venture capital, the company had the value of $700 million according to The Wall Street Journal.
If Twitter were to buy SoundCloud, that should certainly be a very expensive acquisition by them. Twitter’s most expensive purchase has been ad network MoPub for $350 million.