Twitter has some strings attached to music!

About the funding

Renowned social networking site, Twitter invests in Berlin-based music streaming startup, SoundCloud. As per the reports, the deal is closed at $70 million. Other financial details remain undisclosed. With this investment, Soundcloud aims to build value for creators and listeners alike, and continue to reach millions of people at a time across the world.  Recently, SoundCloud launched a paid music service, Go (subscription basis).

Twitter and Music

In 2013, Twitter launched its music app that featured well-known songs and upcoming artists. The project was shut down a year later. Twitter has taken another chance to step in the world of music with this investment. Jack Dorsey is the CEO of Twitter. The social networking site always looked forward to be engaged in music-related business.

Introducing Soundcloud

Launched in 2008, SoundCloud is a unique platform for unsigned and indie artists to display their talent by uploading and sharing self-created music and audio files. To compensate the artists, the startup emphasizes to shift to subscription model. Earlier this year, Twitter Ventures invested in SoundCloud.

Takeaways:-

• Twitter invests in a music streaming Berlin-based startup, SoundCloud.
• Reportedly, the deal is closed at $70 million.
• Launched in 2008, SoundCloud is a unique platform for unsigned and indie artists to display their talent by uploading and sharing self-created music and audio files.
• SoundCloud launched a paid music service, Go.