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.

 

 

 

Source: Bloomberg