Please wait while we enable your Account

0%

Contacting Amazon Web Services
Deploying Cloud Servers, Storage, Transcoding & Database Servers
Deploying Global CDN
Deploying Firewall & Enabling Security Measures
Deploying the CMS & Admin Module
Deploying Website, Mobile & TV Apps framework
Creating your FTP account
Finishing up all the modules
Preparing for launch

Twitter writes off its investment in SoundCloud

Roshan Dwivedi Published on : 28 February 2018

Twitter has written down almost $70 million investment in SoundCloud referring that digital music industry is a challenging industry to rake in.

Jack Dorsey, CEO Twitter, invested in music streaming service SoundCloud in 2016 and has written off the deal in one year. It is said that Twitter has realized that the invested amount cannot be recovered anytime soon.

Here it is worth a mention that Twitter initially thought of acquiring the Swedish streaming giant but later bailed out. Mr. Kerry Trainor, CEO, SoundCloud, quoted that they will be focusing on a more limited monthly plan (for five dollars), and a renewed subscription service for producers, creators, and consumers.

Written by: Roshan Dwivedi

Add your comment

Leave a Reply

Your email address will not be published.

Try Muvi One free for 14 days

No Credit Card Required

.muvi.com
Your website will be at https://yourname.muvi.com, you can change this later.