Twitter’s growth is slowing down is a known fact and now it seems that the company is buying a music and audio sharing service to address it. Recode reports that Twitter is buying audio-sharing service, SoundCloud. In October 2013, SoundCloud has announced that it has 250 million users and was valued at $700 million earlier this year when it raised $60 million in funding. It offers free audio hosting and sharing via its website and there is a paid tier for those who need extra features.
Twitter has tried its luck with music earlier as well. The microblogging site had earlier acquired a music discovery service We Are Hunted and launched the Twitter Music app, but the app failed to impress and was eventually taken down. This acquisition indicates that Twitter still hopes that music can bring more traffic to its site.