Twitter reportedly backs out of SoundCloud acquisition talks
The latest in the rumour mill has it that Twitter has passed on its SoundCloud acquisition deal.
The procurement deal that could have been the largest for Twitter stands cancelled at present.
According to CNET, SoundCloud, a free music streaming service that lets its users upload audio clips, is valued at 700 million dollars, and Twitter's most expensive investment so far has been the purchase of advertising network MoPub for 350 million dollars.
Reports have further revealed that SoundCloud would have been Twitter's easy entry into the music industry and its 250 million users worldwide could have boosted Twitter's growth phenomenally.
(Posted on 21-05-2014)