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Snapchat CEO Evan Spiegel wants to buy Taylor Swift's music label Big Machine

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He wants to use Snapchat to promote music:

Snapchat CEO Evan Spiegel is keen to acquire Big Machine, the record label most famous for representing singer Taylor Swift, according to the New York Post.

Spiegel has previously expressed an interest in the music industry. Executive emails leaked in the Sony Pictures Entertainment hack last year revealed that the 24-year-old entrepreneur "would like to have a record label so he could focus on the artists that he wants to use [Snapchat] to promote."

Snapchat has since doubled down on content with the launch of "Discover," a series of curated channels featuring videos and content from selected partners. These include VICE, Yahoo!, MTV, and National Geographic. The acquisition of Big Machine could help expand this push in new directions — and Swift would add serious star power to the platform. 

Any potential acquisition would likely be by Snapchat rather than Spiegel personally.

Talks fell through over price:

Still Snapchat is pushing music artists:

Snapchat is also emerging as a force in the music world, boosting sales of such artists as Cash Cash and Charli XCX via its Discover platform, where users can watch music and video clips.

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