Twitter said to be mulling purchasing SoundCloud

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Twitter may be looking to expand their internet tendrils into the world of music again, according to a report from website Re/Code. The report claims that Twitter is looking at purchasing SoundCloud, the free online audio-sharing service, citing sources “…familiar with both companies.”

There is precedent for Twitter attempting to make inroads in the music market; the company launched Twitter Music some time back, eventually dropping the service earlier this year due to a lack of interest. Picking up SoundCloud would give Twitter an opportunity to re-attempt their musical ambitions with an established customer base.

Re/Code does point out that the apparent deal between Twitter and Soundcloud isn’t a certainty yet. It’s quite possible that it won’t happen at all, and both companies have declined to comment on the rumours of a Twitter acquisition so far. The report also states that SoundCloud would prove to be Twitter’s most costly purchase if it does happen – SoundCloud is currently valued at $700 million thanks to a recent round of fundraising.

Though unconfirmed at present, we’ll be keeping an eye on any future developments between the two companies.

Source: Re/Code

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