Twitter invested 'around $70 million' in music-streaming service SoundCloud

Twitter invested “around $70 million” in music-streaming service SoundCloud, according to Recode’s Peter Kafka and Kara Swisher.

The investment was part of a new round that will reportedly value the streaming service somewhere in the neighbourhood of $700 million. Jack Dorsey confirmed to Recode that the company owns a stake in SoundCloud.

Business Insider has reached out to SoundCloud for comment.

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