Here at DJcity, we always strive to provide our customers with great value and the highest quality of content. We are proud to announce our new Global Musi...
Twitter is reportedly considering a deal to buy SoundCloud, according to tech news website Re/code.
The streaming service describes itself as the “YouTube of audio” and claims to have 250 million users.
SoundCloud is currently valued at $700 million, based on a $60 million round of funding earlier this year. If a deal goes through, it would mark Twitter’s most expensive acquisition ever.
Last year, Twitter introduced a music app called “Twitter Music,” which was intended to help users discover new artists and songs. However, the service was pulled in March due to a lack of consumer interest.
In addition to its failed music service, Twitter’s lack of user growth is also a thorn in its back. The company’s stock recently took a beating when its first quarter growth failed to impress some investors.
We’ll be watching this story closely and provide updates as they unfold.
Related: SoundCloud in Licensing Talks with Record Labels