I don’t know about you, but I still can’t believe that we almost lost Soundcloud about a month ago. Speculation started to arise in the beginning of July when Soundcloud unexpectedly fired 40 percent of their employees. Social media was going crazy when this news came out and no one could believe that we were maybe about to lose Soundcloud forever.
The chances that Soundcloud would stay running started to look very slim until Chance the Rapper posted a tweet stating:
This brought new hope to all the Soundcloud users and fans of the music platform. The following day, Chance tweeted again putting music lovers at ease, he wrote:
Keeping the positive news going, a few days ago it was announced that Soundcloud has received two investments thanks to Temasek Holdings and The Raine Group. Music Business World estimates the investment was in the $150 to $160 million range, bringing the music platforms valuation to around $300 million. These investments make up for more than 50% of Soundcloud’s equity, giving them control of the platform. What their next move is for the company is unknown, but what we do know is that Soundcloud isn’t going away anytime soon and neither is your music.