Twitter invests in music SoundCloud SoundCloud broadcast service

Jun

15

2016

Invested micro – blogging service Twitter has an estimated $ 70 million in broadcast music service SoundCloud SoundCloud, to reach the final value of the investment of about $ 100 million, according to sources familiar with the deal.

I tried two years ago to buy Twitter SoundCloud service to be attached to the social media platform, but the acquisition did not take place, confirmed Jack Dorsey, CEO of Twitter to acquire his company now is to share in the SoundCloud.

Both companies have faced tough times with investors, where he faced Twitter weakness in growth, while faced SoundCloud problems in the beginning of the year related to the financial liquidity needed by the service to continue.

Issued SoundCloud service issued a statement confirming the Twitter investing in service, and that this investment can SoundCloud to continue to focus on building value for the creators and both Almstaman

She added that the investment helps to continue the implementation of many of its own initiatives, such as the comprehensive service, which was launched recently, and based on the principle of participation SoundCloud Go.

The music streaming service is facing problems with regard to signing licensing deals with music companies and brands in trying to raise interest in its service Aljaddedah based on a monthly subscription of US $ 9.99.

And moving a lot of emerging artists to the popular SoundCloud service to show themselves and publicity, the company sought a labored to convert these folk into liquid funds.

It should be noted the Twitter invest in cyanogen previously developed system based on the Android operating company, In VenueNext company, which is building applications for fields and playgrounds, and Swirl company specialized in providing e-marketing tools for the stores.

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