SoundCloud saved by $150-million-dollar investment
It appears that there might have been some validity to Alex Ljung’s statement that the rumors of SoundCloud’s demise were “just noise.” The co-founder of the streaming service dismissed claims that SoundCloud was to fold after a financial report surfaced that indicated that the platform only had enough cash flow to remain in business for a measly fifty-days.
Yet a new report has emerged that SoundCloud has been revived at a $150-million-dollar pricetag. Two investors said to be The Raine Group and Temasek Holdings are responsible for the company’s preservation, their investment in the service not only keeping SoundCloud afloat, but obtaining the investors more than half of SoundCloud’s total equity.
Streamers and artists alike may seek solace in the knowledge that the investment signifies that SoundCloud will not be exiting the Internet soon, with their music in tow.