Twitter Invests $70 Million in SoundCloud

The Twitter-SoundCloud partnership grows.

Twitter continues to bet big on SoundCloud. According to Recode, the social media giant has invested about $70 million in the audio distribution platform founded in 2007.

The Twitter investment—the latest from the company—is part of a larger round of funding that is expected to value SoundCloud at about $700 million.

“Earlier this year we made an investment in SoundCloud through Twitter Ventures to help support some of our efforts with creators,” said Twitter CEO Jack Dorsey, in a statement. “They’ve been great partners of ours over the years and their community-supported approach mirrors ours in many ways.”