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May 20, 2014

Twitter to buy music sharing service SoundCloud

SoundCloud is an online audio service which allows users to upload, record, promote and share their music.

By CBR Staff Writer

Twitter is looking to buy Germany based music sharing service SouthCloud, which is considered to be ‘YouTube’ for audio.

SoundCloud is an online audio service which allows users to upload, record, promote and share their originally-created sounds. The free service is claimed to have more than 250 million users.

If the deal goes through, it could be Twitter’s second attempt to foray into music as it had launched a music app called Twitter Music last year. Twitter was planning then to add SoundCloud as one of the services to facilitate users to listen music through the app.

But the Music service failed to entice many users and the company axed the service in March.

According to a report from Re/code the acquisition of SoundCloud could help Twitter expand its reach outside its core service.

Dwindling user base of Twitter seems to be concern for the microbloging site since it went public and it could be trying to add some more users, the report claimed.

Previously, SoundCloud had raised $60m funding which valued the company at $700m and if the deal struck, then it could be microblogging site’s biggest buy.

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The deal which is ‘no means a certainty’ could allow SoundCloud to sell ads along with its music streams.

Last year, Twitter had acquired mobile advertising exchange start up MoPub for $350m, which will add real-time bidding feature to company’s ad platform.

Apart from enhancing its relationship with conventional media firms, the deal will also support Twitter’s ad sales platform and e-commerce services.

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