Twitter buys stake in SoundCloud

Wednesday 15 June 2016 | 10:34 CET | News
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Twitter has invested around USD 70 million for a stake in the music service SoundCloud, reports Re/code. This is part of a financing round by SoundCloud to raise about USD 100 million in total, sources familiar with the deal said. The round is expected to value SoundCloud at about USD 700 million — the same value that investors placed on the company in 2014. Twitter CEO Jack Dorsey wouldn't comment on the specifics of the company's investment, but confirmed that Twitter now owns a stake in SoundCloud. "Earlier this year we made an investment in SoundCloud through Twitter Ventures to help

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Categories: Internet
Companies: SoundCloud / Twitter
Countries: World
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