A Music streaming company Spotify is reportedly in talks to take over $700m (£535m) rival Soundcloud. The discussion between the two streaming services was advanced, According Financial Times report.
Spotify is planning to acquire soundcloud.Although, it is unclear that how much Spotify would pay for this acquisition. As Soundcloud raised the funds in June 2016, we can expect a significant turnover between these companies. Soundcloud is still the number 1 music platform.
Twitter invested $70m in this Berlin-based company. However, SoundCloud raised $100m in June, and the total value is now approx $700m.
“With SoundCloud’s subscription service, the two services are becoming more similar than they have been before, so a reason (to buy) would be a consolidation of subscriber bases and to combine talent pool,” he added.
Financial Times Report.
What Spotify is planning?
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