News - 28/07/2016

SoundCloud Ltd.’s owners are considering a sale

SoundCloud Ltd.’s owners are considering a sale

According to sources, SoundCloud Ltd.’s owners are considering a sale that could value the German music streaming company at $1 billion as it looks for ways to boost growth and profit from its user base. SoundCloud’s founders and investors are now exploring strategic options for the company that could lead to a sale, said the sources who talked to "Bloomberg.com". It seems that the deliberations are at an early stage and the company may decide against pursuing a deal.

The owners have had trouble finding a buyer willing to cough at least $1 billion so far. SoundCloud raised $70 million from Twitter Inc. in June, part of a $100 million funding round that priced the company at $700 million.

The company is always working to generate reliable revenue from its approximately 175 million users, who spend time on the site to record, listen to and share songs. In March a premium seevice was launched, allowing customers to pay $10 a month for ad-free streaming and increased access to songs.

In 2014, the last year that SoundCloud publicly reported its accounts, sales rose 54 percent to 17.3 million euros ($19 million) from a year earlier. The operating loss at the time was 39 million euros, widening from 21.3 million euros in 2013.

© 2024 All rights reserved. Rockol.com S.r.l. Website image policy

Rockol

  • Rockol only uses images and photos made available for promotional purposes (“for press use”) by record companies, artist managements and p.r. agencies.
  • Said images are used to exert a right to report and a finality of the criticism, in a degraded mode compliant to copyright laws, and exclusively inclosed in our own informative content.
  • Only non-exclusive images addressed to newspaper use and, in general, copyright-free are accepted.
  • Live photos are published when licensed by photographers whose copyright is quoted.
  • Rockol is available to pay the right holder a fair fee should a published image’s author be unknown at the time of publishing.

Feedback

Please immediately report the presence of images possibly not compliant with the above cases so as to quickly verify an improper use: where confirmed, we would immediately proceed to their removal.