It was reported that SoundCloud suffered $44 million in losses earlier this year and now it has been unveiled that Twitter may have saved the music service's day. The social media platform reportedly invest $70 million in the company which is part of an investment round that will total in the $100M range.

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