About two weeks ago we had heard reports of Soundcloud having just Fifty days to survive with its financial crisis. We just have heard reports of the company selling a part of its stake to a couple of private Equity firms. While we have no confirmation on the exact deal that has been cracked, its safe to say that the company will survive for a longer time. That being said, they still would need a better business plan to cover the millions of losses it incurs.
Not so long ago, a few reports had been leaked of Soundcloud only having about 50 days to survive. The reports were quickly dismissed by Soundcloud co-founder Alex Ljung. It was however true that they had cut off 40% of their staff. They have also shut down two of its offices in London & San Francisco. All that we as users of the app can hope for is that the newly infused money by the two firms would help the company convert its losses.
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