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Wednesday, June 15, 2016

TWITTER INVESTS IN SOUNDCLOUD

Twitter has invested about $70m in SoundCloud, Recode has reported. The funding round is expected to value SoundCloud at roughly $700m.

“This investment will enable SoundCloud to remain focused on building value for creators and listeners alike, and to continue the global rollout of many company initiatives such as our recently launched subscription service, SoundCloud Go,” Twitter said in a statement to the website.

Benefits are twofold: SoundCloud could use Twitter’s help in spreading the word about its new subscription service; Twitter could finally, after years of trying, make inroads into music and attract new users, which in turn would make the company more attractive to Wall Street.

 
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