Twitter is Reported to Buy SoundCloud
Twitter seems to be really excited about going into music. After a failed attempt to run its own music application back in March, the social network is considering an acquisition of SoundCloud. The strong music orientation was taken due to the fact that many users of the microblog tend to spend a lot of time discussing their music tastes and sharing links to their favorite songs.
SoundCloud, sometimes referred to as 'YouTube for audio', is a free service that allows users upload their audio files and share them across the Net. The number of SoundCloud users accounts for over 250 million people, close to the amount of Twitter's monthly active users. And besides, and SoundCloud is reported to be the most popular music streaming service among Twitter users, so that's no surprise Twitter wants to grab it.
Currently, the price of SoundCloud is estimated at around $700 million, so if Twitter manages to secure the deal, this is going to be the most expensive acquisition in the history of the social network. There still isn't much certainty on the matter as both companies refuse to give any comment, but both would surely benefit from it: Twitter would get the music streaming service it longs for, and SoundCloud would get a nice selling platform for ads and an opportunity to work on deals with big music lables.
