| 30 Nov 2023
Twitter invests heavy in SoundCloud

MUMBAI: The two-year-long Twitter’s attempt to buy SoundCloud has finally concluded with the micro-blogging website investing $70m in the music streaming service. The investment allows Twitter to further engage with its strong 300 million plus users.

"We can confirm that Twitter has made an investment in SoundCloud. Both companies facilitate and inspire contemporary culture to happen in real time while reaching millions of people around the world," said a SoundCloud spokesperson.

Twitter turned ten year old and the recent stalled growth has been worrisome for the organisation with the growing competition. For the fourth quarter, the company reported 305 million active users, compared to the third quarter figure that reached 307 million active users.

Media reports suggest if Twitter manages to maintain the consistent shares for longer period, the company may be subject to acquisition from Google. Reports also suggest that Comcast may join the race to buy the social media site.