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Anna Nicolaou & Matthew Garrahan

Spotify abandons attempt to buy SoundCloud


As SoundCloud prepares for an IPO in 2017, the streaming platform was in talks with Spotify over an acquisition that has since fallen through. Read the details about the talks and subsequent abondonment in the full Financial Times report.

This article originally appeared on Financial Times

Music streaming service switches focus to IPO next year

Spotify has abandoned plans to acquire rival SoundCloud, as the music streaming company gears up for an IPO next year.

The companies were in advanced talks on a deal in September, the FT reported, as Spotify looks to compete with Silicon Valley titans such as Apple and Amazon in the competitive streaming market.

However, the deal has fallen through because Spotify did not want to slow its path towards a flotation with the costs and licensing agreements needed to buy SoundCloud, according to someone familiar with the matter...

... Read the full article by and at ft.com/content/32c88416-bd83-11e6-8b45...

Tags : SoundCloud Spotify