New Delhi: Twitter seems to be embarking on an acquisiton drive. After buying social data provider Gnip last month, Twitter, as reported by ReCode, is now planning to buy Berlin-based SoundCloud, a popular service that lets people host and share audio files on web.
SoundCloud, which had 250 million users in october last year, describes itself as the "YouTube for audio." SoundCloud earlier this year was valued at $700 million.
It's still not known as to why Twitter would buy SoundCloud. If Twitter acquires SoundCloud, it will be its second attempt at the music business. Twitter last year had launched a now-defunct service that let people find music they liked and tweet songs from iTunes, Spotify and Rdio.
Twitter said in February that its user base grew by 4 per cent, the lowest rate in years, while timeline views also dropped dramatically. The company has unveiled a number of cosmetic tweaks in recent weeks in hopes of improving user growth. Of late, for instance, Twitter redesigned its user profile page to resemble a more popular social media site - Facebook.
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