Twitter Reportedly Buying SoundCloud

Posted: May 20 2014, 1:25am CDT | by , Updated: May 20 2014, 1:30am CDT, in Rumors | Technology News

 

Twitter reportedly buying SoundCloud
Nadine Rupp/ Getty Images
 

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

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. 

You May Like

Advertisement

The Author

<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.

 

 

Advertisement

Leave a Comment

Share this Story

Follow Us
Follow I4U News on Twitter
Follow I4U News on Facebook

Advertisement

More For You

Read the Latest from I4U News

Tags:

twitter | reportedly | soundcloud