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.
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.