Spotify drops $700 million deal to buy SoundCloudDecember 10, 2016 - 14:46 AMT PanARMENIAN.Net - Spotify is no longer considering to buy SoundCloud, The Verge said citing reports from the Financial Times and TechCrunch. The news comes after earlier reports in September that Spotify was in advanced talks to acquire SoundCloud in an effort to both boost its streaming catalog and eliminate a competitor from the streaming landscape. A source for the Financial Times claims that the deal was abandoned as Spotify prepares for an IPO sometime next year, something that the streaming company did not want encumbered by the costs and licensing issues of an acquisition. All in all, it’s a sensible move from Spotify, given that the benefits of the deal seemed to be far outweighed by the cost (SoundCloud was last valued at $700 million), especially as the streaming service heads toward an IPO in 2017, The Verge said. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. India wants Armenia’s proposals on use of Chabahar port India is expecting proposals from Armenia regarding the use of Chabahar port in Iran, Indian ambassador says. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. |