SoundCloud reportedly saved for 150 million dollars

It's been on shaky ground recently, but it seems SoundCloud may have just copped the clutch save in the final hour.

According to , a pair investors have bought into the streaming service for a total $150,000,000USD.

A reliable source told MBW that the investors are The Raine Group and Singapore state investment company Temasek Holdings, who now jointly own upwards 50% SoundCloud's equity.

The news comes just a week after SoundCloud's Sydney , joining the likes it's UK and San Fran fices that were closed last month after SoundCloud stripped down nearly .

Despite reports it only has a matter weeks to survive, SC's co-founder Alex Ljung said the rumours were "just noise". With that said, a 300-million dollar investment certainly looks like they needed some help.

After 18 rough months for the German streaming service, here's hoping this investment brings SoundCloud back to what it used to be. For now though, artists can relax. Your music isn't going anywhere just yet.


Releated Post