Spotfify is prepping a major IPO. But on day 3 of 2017, that's already looking unlikely to be the year's biggest story in music streaming. Google is reportedly sniffing around SoundCloud, even as Pandora's money folks search for a buyer.
Google is interested in buying SoundCloud, according to multiple sources. While we can't measure the accuracy of each of the stories that we're hearing, there's enough chatter for us to believe that where there's smoke, there's real fire. A SoundCloud purchase would certainly end Google's also ran status in music streaming.
A deal for Spotify to buy SoundCloud for an estimated $1 billion fell through late last year, after Spotify decided that becoming an even bigger and more unprofitable company did not help its chances of having a successful IPO.
Meanwhile, after rebuffing an offer from Liberty Media's SiriusXM, Pandora's investment bankers are reportedly sniffing around for another buyer who would best what is on the table. They're also hoping that the early 2017 launch of Pandora's Spotify competitor will increase company value.
Alongside the inevitable consolidation coming in streaming and music tech, and some scrappy startups ready to make waves, 2017 is already shaping up to be quite a year.
This story appears courtesy of HypeBot.
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