Twitter is really trying to enter the music market and is willing to make a major acquisition to get into the business right. New information indicates that the social network tried to buy Spotify and Pandora, two giant streaming services in the United States.
The information came from the Financial Times, a publication that also anticipated the purchase of Beats by Apple. The material cites three people familiar with the matter, who report that the transaction with any of the services would involve billions of dollars and, therefore, would be the largest acquisition in Twitter history if confirmed.
The company’s biggest problem to enter the business seems to be the capital to invest in the purchase of one of these great services. Recently, its IPO generated $ 2.1 billion, in addition to $ 1 billion in credit facilities.
Recently, too, the social network was involved in rumors of buying SoundCloud, but the deal supposedly melted because Twitter didn’t have the money to complete the deal.
SoundCloud was recently valued at $ 700 million, more than double the largest acquisition in the history of Twitter, which paid $ 300 million for MoPub, a mobile advertising company.
It wouldn’t be the first job in the area, either. The company has already launched Twitter #Music, a frustrated platform that ended up being discontinued after a short time. Now, the company has formed a partnership with Billboard, but for now, nothing new in this area.
Via Financial Times and The Next Web
Music social networks Twitter Spotify