Twitter wants to be music based – Invests 70 mio. $ in SoundCloud

Twitter, the microblogging site, has invested 70 mio. Dollars in SoundCloud because they want to make their own service more music based. This is what technology website Re/code reported citing people familiar with the deal.

According to NBC News Twitter has confirmed the deal, but they are not providing 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 is a platform where people can upload music and other audio files so that others can listen and comment on this. SoundCloud also confirmed the deal.

In 2013 Twitter launched Twitter Music, but it happened to close down a year later. Back in 2013 the company said that it would look for new ways to bring music based content to the service. Maybe this is what they are doing now.