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Twitter says it invested $70 million in SoundCloud

CALIFORNIA: Social networking site Twitter Inc has confirmed that it has invested about $70 million in Berlin-based music service SoundCloud.

“Earlier this year we made an investment in SoundCloud through Twitter Ventures to help support some of our efforts with creators,” Twitter chief executive Jack Dorsey said.

He did not provide any financial details about the investment.

On the other side, the online music app, SoundCloud also confirmed that Twitter had made the investment.

Twitter’s investment was part of a funding round expected to be in the range of $100 million, which would value SoundCloud at about $700 million.

 

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.