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Twitter invests $70 million in streaming service SoundCloud

Written by Andre Yoskowitz @ 16 Jun 2016 10:21 User comments (1)

Twitter invests $70 million in streaming service SoundCloud

Twitter has invested $70 million in popular streaming music service SoundCloud in an effort by both companies to share users.
"Earlier this year, we made an investment in SoundCloud through Twitter Ventures to help support some of our efforts with creators," said Twitter CEO Jack Dorsey. "They've been great partners of ours over the years, and their community-supported approach mirrors ours in many ways."

SoundCloud has 175 million users while Twitter has 300 million monthly active users, and over 500 million accounts. The streaming service has struggled in recent years, however, with losses in the tens of millions despite increasing revenues. The investment will certainly help keep the company afloat for some time and "enable SoundCloud to remain focused on building value for creators and listeners alike," adds the company.

Source:
NYT

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1 user comment

124.6.2016 03:47

linkit was an amazing your sales up and down but your services sty still
same as like this .

This message has been edited since its posting. Latest edit was made on 24 Jun 2016 @ 3:48

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