Recode reports that Twitter (TWTR) may be in talks to purchase music sharing and hosting platform SoundCloud.
According to the puclication, the U.S. microblogging service is “considering a deal” to acquire the Berlin-based company, which is very popular with musicians as well as established stars.
SoundCloud was founded in 2007 and has roughly 250 million users. The company that calls itself “YouTube for audio” has raised more than $120 million in funding and is reportedly valued at $700 million. Twitter’s biggest acquisition to date has been MoPub, the mobile ad company it purchased for $350 million.
Twitter was last trading Monday at $32.17, down 0.37% from Friday and well off its $74.73 December high.