CURRENT AFFAIRS

Detailed explanation-1: -Sirius XM’s investment in the company will be used to work on “product development and enhance the services that fuel its global community of creators and listeners, ” according to a release.

Detailed explanation-2: -Two years before the investment, Twitter had looked at buying SoundCloud for more than $1 billion, but didn’t. And it’s a reminder that even though consumers have embraced free and paid music streaming services, the companies that run those services generally aren’t making a profit.