Spotify in Talks to Acquire SoundCloud

The Berlin-based startup may be acquired by Spotify soon.
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According to a report by the Financial TimesSpotify is in "advanced talks" to acquire rival music service SoundCloud.

Though spokespeople from both internet music services declined to comment on the matter, Spotify is reportedly closing in on the acquisition of SoundCloud. The news comes after a period during which the Berlin-based startup's financial stability has been in question; back in July, it was reported that the company was looking for a $1 billion sale (with Twitter having only a few weeks earlier invested $70 million in it).

Spotify is the market leader in the online music streaming industry (with 40 million users), ahead of nearest rival Apple Music (which has roughly 17 million users). SoundCloud have also tried to break the paid market with the SoundCloud Go service, though it hasn't attracted more than a few hundred thousand users.