With the music streaming market slowly getting crowded, it appears that Spotify wants to cut itself a bigger slice of the pie. To that end, the company is rumoured to be currently in talks to acquire Soundcloud.
According to reports from BBC, should Spotify decide to buy up Soundcloud, the deal could be worth USD700 million. Rumours have been going for a while now that Soundcloud has been trying to sell itself for a while now. Not to long ago, Twitter invested USD70 million in Soundcloud, although the company did not follow up on its interest in acquiring the music streaming site.
Neither company’s have commented on this rumour, but assuming that the rumour is true, Spotify acquiring Soundcloud could give Spotify the edge it needs to fend off its rivals. Spotify currently has 40 million paying subscribers. Meanwhile, its closest rival, Apple Music, has 17 million subscribers.
Source: BBC