SoundCloud has just landed itself a USD 70 million investment and said investment comes from a company that they are familiar with: Twitter.
According to Recode, Twitter has invested roughly USD 70 million into the music service. While Twitter CEO Jack Dorsey is keeping mum as to the specifics of the investmennt, he did confirm on Twitter that it now owns a stake in SoundCloud. “Earlier this year, we made an investment in SoundCloud through Twitter Ventures to help support some of our efforts with creators. They’ve been great partners of ours over the years and their community-supported approach mirrors ours in many ways,” says Dorsey.
“We can confirm that Twitter has made an investment in SoundCloud. Both comapnies facilitate and inspire contemporary culture to happen in real time while reaching milions of people around the world. This investment will enable SoundCloud to remain focused on building calue for creators and listeners alike, and to continue the global rollout of many company initiatives such as our recently launched subscription service, SoundCloud Go,” says a SoundCloud spokesman.
This wouldn’t be the first time Twitter has flirted with SoundCloud of course. Two years ago, Twitter was considering buying the audio streaming site, but decided to pull out from it.
Source: Recode
