/ Soundcloud

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Big Ger - on 13 Aug 2017
Music streaming service Soundcloud will live on after securing a reported $170m (£135m) in investment.
The platform, popular with emerging artists, faced closure if the new funding was not approved by Friday. "Soundcloud is here to stay,” wrote Alexander Ljung, the company’s chairman, who as part of the deal is stepping down as the firm's chief executive.

Concerned users had been backing up their Soundcloud uploads, worried the site would go offline. Its highest profile user, Chance the Rapper, has been vocal in supporting the site. In July, the Berlin-based company laid off 40% of its workforce, a total of 173 people. In a note circulated to shareholders earlier this week (obtained by Axios) Mr Ljung said without the money Soundcloud would not be able “to continue as a going concern”.

By Friday, things were looking up. "This financing means Soundcloud remains strong and independent,” Mr Ljung wrote in a blog post.


Anybody else here use Soundcloud? I host some of my ambient stuff on there.
Jon Stewart - on 13 Aug 2017
In reply to Big Ger:

Yeah, big fan. I don't upload anything, just use it to "collect" a favourites list, follow artists, find new stuff. Quite a few of my favourite electronic artists put their stuff up on there, I'd have been very sad to see it go.
David Martin - on 13 Aug 2017
In reply to Big Ger:

Very surprised it is in trouble. Can't comment on its business model, but it's a slick and stylish interface giving airtime to all kinds of artists with decent algorithms linking you to similar genres.

Hope it manages to continue in some way close to its present form.
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Fishmate - on 13 Aug 2017
In reply to Big Ger:

Good news, thanks for the update. I'm actually using it right now (Arielle Z), probably my fav non climbing/training site. I follow artists and find new sounds, the same as Jon..

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