Twitter no longer mulling SoundCloud acquisition

SoundCloud

We had reported that Twitter is considering making a bid to acquire German music service SoundCloud, but now it appears that the social network is no longer interested in a deal.

"Twitter considered buying German music-streaming service SoundCloud, but it has backed out of the talks, according to a person familiar with the matter," the Wall Street Journal reported, citing that "the numbers didn't add up."

According to the Journal's source, Twitter eventually let the deadline pass without arriving at an agreement.

SoundCloud is a service that is viewed as a YouTube for audio where users would upload tracks and share with each other. As such, one initial concern is that the service itself doesn't have licensing agreements with the major record labels when copyrighted materials are streamed. It's unclear if that risk posed an an insurmountable obstacle for Twitter.

Source: WSJ

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There are 3 comments. Add yours.

counterculture says:

In my opinion, this is a good thing for both services!

Sent from the iMore App

kazn3r says:

In my opinion, I'm not sure who got into Soundcloud to prevent DJ's from uploading mixes, but you'll notice many Famous DJs can upload mixes, no matter what songs they use, but a normal human cannot. Immediately removed and a message sent notifying you that there is copyrighted material in the track you tried to upload.

So, in my theory, the German company is dragging a lot of baggage, because if it wasn't Twitter would've scooped them.

admirer_of_you says:

Thank god this isn't going to happen.