Twitter intends to finance the rescue of SoundCloud as a loss

According to the financial results for the year 2017, it has registered a company Twitter investment made by saving the company SoundCloud in lost most of it.

And twitter has provided $ 70 million for its investment in SoundCloud, which suffer from significant financial problems in 2016, but by the end of 2017 the record of 66.4 million dollars.

Recall that Twitter had conducted several talks with SoundCloud to take it, and within the gallery refused last, in the end invest in, and launched the service, voice of the tour to raise financing totaling $ 100 million contributed to Twitter mostly, but you can’t get more funding later due to the lack of proof of their ability to achieve returns.

It is new in the middle of last year managed to SoundCloud to get new financing of $ 170 million dollars recovered from bankruptcy, but this funding came to terms harsh led the restructuring of a large company and led to change of its CEO and abandoned a lot of the early investor.

It seems that the attempts by Twitter to enter the field of music has faltered, and the social network several previous attempts until they appointed a team to develop the application of special musical and some more on the website belonging to follow artists and favorite songs and interact with them, but they all reached an impasse.

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