Spotify Could Purchase SoundCloud

Spotify Could Purchase SoundCloud

It’s that time of the year when rumor of companies being on the verge of being purchased are out and about. Case in point: it looks as though Spotify is interested in purchasing streaming music and podcast site SoundCloud, according to the Financial Times.

For a long time SoundCloud has been a constant competitor to Spotify, so a purchase would not only give the major on demand music service a beefier library, but also breathing room in a market becoming more and more crowded. The purchase would also keep the company ahead of the likes of Apple, Tidal, and Pandora in being the one to remove a player from the board.

Investors in SoundCloud are looking could be looking at around $700 million for the company. With the company having stalled as far as what else can be done with the service beyond accumulating music and serving as host for podcasts, a purchase would be the next step.

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Starting with Kabir News in 2013, James has focused on tech, gaming, and entertainment. When not writing, he enjoys catching up on sci-fi and horror shows and comics. He can be followed on Twitter @MetalSwift.

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