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Soundcloud going under

Trojan · 2017-07-07 11:30:37

Just a heads-up for anyone with files on Soundcloud, might want to back it all up asap. https://blog.soundcloud.com/2017/07/06/note-alex-ljung/ https://www.musicbusinessworldwide.com/soundcloud-slashes-40-staff-financial-reality-hits-hard/

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07-07-2017 12:30pm

#1

Trojan

Registered Users Posts: 16,402 ✭✭✭✭

Join Date: February 1998

Posts: 15124

Just a heads-up for anyone with files on Soundcloud, might want to back it all up asap.

The German-born streaming company has informed its staff today that 173 jobs are being cut, from a total headcount of 420.

The business will consolidate its operation across its New York and Berlin offices.

The last available annual accounts for SoundCloud are for 2015, when revenues were up 21.6% to €21.1m ($22m), but net losses accelerated 30.9% to €51.22m ($52m).

When these figures were filed in January, SoundCloud CEO and co-founder Alexander Ljung noted that the company may “run out of cash” before the end of 2017 if it could not secure further financing.

https://blog.soundcloud.com/2017/07/06/note-alex-ljung/

https://www.musicbusinessworldwide.com/soundcloud-slashes-40-staff-financial-reality-hits-hard/

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