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Twitter pulls out of SoundCloud talks: Report

Last Updated: Wednesday, May 21, 2014 - 10:47

Twitter has pulled out of discussions to buy the German-based music-sharing service SoundCloud, An international newspaper said Tuesday.

Reports earlier this week said Twitter was in talks with SoundCloud to get back into music after a failed attempt last year to launch a music-finding service.

The Journal quoted a person close to the talks as saying Twitter chose to let the deadline for exclusivity on talks pass because "the numbers didn`t add up."

News of the talks, first reported by the website Re/code, had said any deal would be expensive for Twitter, but would add a company with a customer base of 250 million, roughly the same size as the micro-messaging platform.

SoundCloud recently raised $60 million in venture capital, which would give the startup a value of about $700 million, according to an International Newspaper.

Neither company has commented on the reports.

AFP
First Published: Wednesday, May 21, 2014 - 10:47
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