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Music Streaming: Spotify In Advanced Talks To Buy Soundcloud

Music Streaming: Spotify In Advanced Talks To Buy Soundcloud :- Swedish Music Streaming Service Provider – Spotify is in advanced talks to buy German rival – SoundCloud. The Financial Times reported on 28th September, citing people briefed on the discussions.

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Citing people familiar with the matter, Bloomberg reported in July that the founders and investors of SoundCloud were exploring strategic options for the company, including a sale, that could value it at $1 billion.

The FT story did not provide more details on the acquiring.

Music-streaming company – Spotify has struggled to turn a profit amid rising competition from larger players such as Apple.

Citing people with the knowledge of the matter, Reuters reported in the month of June that e-commerce website – Amazon.com is also preparing to launch a standalone music-streaming subscription service.

Music Streaming Company – Spotify could not immediately be reached for comment. SoundCloud declined to comment on this matter.

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