The Wall Street Journal reports [sub req’d] that Twitter walked away from negotiations to buy Soundcloud, the music-streaming service.
The Journal cites an anonymous source that said “the numbers didn’t add up.” Soundcloud is valued at $700 million, and would’ve been Twitter’s largest acquisition.
No word yet on which side initiated the talks, but Twitter is trying to find the right strategy to keep up user growth and engagement.
The company’s previous foray into the music space lead to its #Music app, which saw a 62 percent drop in usage one month after launching. Twitter shuttered the app in March of this year.
Soundcloud’s user base is roughly comparable with that of Twitter’s.