Twitter Invests $70 million in SoundCloud
Reuters- Twitter Inc has invested about $70 million in Berlin-based music service SoundCloud, technology website Re/code reported citing people familiar with the deal.
Twitter confirmed the investment, but did not provide any financial details.
"Earlier this year we made an investment in SoundCloud through Twitter Ventures to help support some of our efforts with creators," Twitter chief executive Jack Dorsey said.
Soundcloud, a platform that enables people to upload and share music and other audio files, also confirmed that Twitter had made the investment.
The news app company investment was part of a funding round expected to be in the range of $100 million, which would value SoundCloud at about $700 million, the Re/code report said.
The micro blogging site has previously atte...