Twitter has invested in SoundCloud

SoundCloud

Twitter has invested in online music platform SoundCloud, as it seeks to encourage more social media influencers to use the messaging site… Berlin-based SoundCloud said earlier this year that it would need to raise more money to stay in business. Twitter is reported to have invested $70 million at a valuation of $700 million… Twitter is trying to lure more creators to its main site, its six-second video app Vine and its livestreaming app Periscope in the face of tough competition from YouTube, Instagram and Snapchat. Last year, it acquired Niche, a start-up that helps advertisers work with social media influencers… Shares in Twitter have fallen almost 60 per cent in the last year — but have been rising this week on speculation that it could be acquired after Microsoft bought LinkedIn on Monday.

 

Hannah Kuchler

Food4Brains

SUBSCRIBE and RECEIVE your DAILY BRAIN FOOD!