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Twitter reportedly buying SoundCloud

May 20 2014, 1:25am CDT | by , in Rumors | Technology News

Re/Code reports that Twitter is acquiring SoundCloud for an undisclosed amount.

Twitter reportedly buying SoundCloud
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Twitter reportedly buying SoundCloud

Twitter is reportedly buying SoundCloud, the popular Berlin-based online audio distribution platform. Sources familiar with Twitter's plans told Re/Code that the deal is still in its preliminary stages.

If Twitter is indeed acquiring SoundCloud, the deal would become its most expensive acquisition.

With over 250 million users, SoundCloud is currently valued at $700 million, according to the Wall Street Journal. The company also raised over $60 million in funding earlier this year. '

Twitter, meanwhile, bought mobile ad company, MoPub, last year for $350 million, making it Twitter's most expensive investment to date.

While the rumor is indeed exciting, SoundCloud users are doubting Twitter's capability to sustain the platform. It's worth noting that Twitter bought music app "We Are Hunted" in 2012 to integrate the service into a new app called Twitter Music, which never launched by the way. The plan was eventually discontinued in March this year, although Twitter Music is still tweeting as of this writing.

Both companies declined to comment on the report. 

 

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<a href="/latest_stories/all/all/21" rel="author">Gene Ryan Briones</a>
Gene Ryan Briones (Google+) is a technology journalist with a wide experience in writing about the latest trends in the technology industry, ranging from mobile technology, gadgets and robots, as well as computer hardware and software.

 

 

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