By John Glenday

Twitter is diversifying away from its social media roots with a $70m investment in music streaming service SoundCloud, just two years on from its snubbed takeover overtures.

Citing sources familiar with the deal Recode reports that Twitter could end up sinking as much as $100m into the business, which now has a market valuation of some $700m.

Confirming the deal Twitter chief executive Jack Dorsey said: “Earlier this year we made an investment in SoundCloud through Twitter Ventures to help support some of our efforts with creators.”

On the other side a spokesperson for SoundCloud said: “Both companies facilitate and inspire contemporary culture Read full story ›

Source: The Drum