Photo: ReutersBengaluru: Twitter Inc. has invested about $70 million in Berlin-based music service SoundCloud, technology website Re/code reported citing people familiar with the deal. Twitter CEO Jack Dorsey confirms the investment in SoundCloud through Twitter Ventures earlier this yearTwitter’s investment was part of a funding round expected to be in the range of $100 million, which would value SoundCloud at about $700 million, the Re/code report said. “Earlier this year we made an investment in SoundCloud through Twitter Ventures to help support some of our efforts with creators,” Twitter chief executive Jack Dorsey said. The microblogging site has previously attempted to make a foray into music with the launch of Twitter Music in 2013, which was closed a year later. Twitter’s investment was part of a funding round expected to be in the range of $100 million, which would value SoundCloud at about $700 million, the Re/code report said.

Source: Mint June 14, 2016 22:18 UTC