Twitter Pumps $70m Into Music
Twitter has invested about US$70 million in Berlin-based music service SoundCloud, though neither company yesterday was prepared to provide details of the deal. However Twitter CEO Jack Dorsey confirmed the deal, saying it had made the investment earlier this year through Twitter Ventures.
The platform enables people to upload and share music and other audio files.
Twitter has been looking to establish a music service since its first attempt, Twitter Music, closed two years ago after only 12 months operation.