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Spotify in advanced talks to buy Soundcloud - report

Thursday 29 September 2016 | 08:36 CET | News
Spotify is in advanced talks to acquire SoundCloud, people briefed on the discussions told the Financial Times. SoundCloud last raised USD 100 million in June from a group of investors including Twitter, valuing the company at USD 700 million. In 2014, the Berlin-based company reported a turnover of EUR 17.4 million and an operating loss of EUR 39 million. The start-up has not reported user numbers or business health since then. Spotify had "reasonably detailed" talks with SoundCloud last spring about a possible acquisition, but balked at its asking price, according to the paper's sources.

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Categories: Internet / Mobile & Wireless
Companies: Spotify / Twitter
Countries: World
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