Twitter Isn't Going To Buy SoundCloud After All

Dick CostoloAPTwitter CEO Dick Costolo.

Earlier this week, ReCode reported that Twitter was in talks to acquire the SoundCloud, the Berlin-based music company that lets people upload and share audio files.

The Wall Street Journal’s Yoree Koh now reports that Twitter has backed out of the talks, according to someone familiar with the matter.

Apparently, Twitter backed off because “the numbers didn’t add up,” though The Wall Street Journal’s source didn’t specify exactly which numbers.

As of October 2013, SoundCloud had 250 million monthly users, slightly fewer than Twitter’s 255 million. After raising a $US60 million funding round earlier this year, SoundCloud was valued at $US700 million. That would have made it Twitter’s largest-ever acquisition if it had gone through after buying MoPub for $US350 million in October.

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