Tech giant Google is all set to make a new investment in the field of communication by investing in Symphony Communication Services LLC, a messaging startup. Symphony offers a centralized platform to different individuals, corporate users and financial firms towards digital communications. Therefore, its collaboration with Google is expected to bring some significant developments in the world of communication.
Speculations are doing the rounds
According to the Wall Street Journal, Google has made a new round of investment for Symphony, which is now valued at $650 million. However, a source close to the deal told Reuters that talks between the two companies are in progress and they are yet to make a final decision on the terms.
While there is no confirmation from any of the companies involved so far, reports of the deal have already fueled up speculation. The service, which is backed by several banks along with the Goldman Sachs Group, is now touted to become a rival of Thomson Reuters Corp. and Bloomberg LP, as these are trusted sources for offering information and messaging services to investors, traders and bankers.
At present, Symphony’s services are available for small businesses as well as individuals for free while businesses which have more than 50 users need to shell out $15 per month for every user.