Twitter to purchase SoundCloud?

Twitter is apparently considering the purchase of SoundCloud, its biggest acquisition since last September’s buy-out of mobile ad exchange company Mopub.

SoundCloud is rumoured to be valued at $700 million. The acquisition of the Berlin-based audio sharing firm’s 250 million users will shadow the now defunct Twitter #Music app, which was launched in April 2013 and axed less than a month later in March. Twitter used SoundCloud, Vevo and iTunes as third party services for the app.

The buy-out whispers were first reported by Recode, which claims it was alerted to the news by “people familiar with both companies”.

SoundCloud raised $60 million in a funding round led by Institutional Venture Partners in January, upping its value to $700 million, double the amount Twitter paid for Mopub, which was acquired for $350 million.