News - 31/07/2017

Soundcloud close to sell stakes to private equity

Soundcloud close to sell stakes to private equity

Free streaming platform SoundCloud Ltd. is, reportedly, close to a deal to sell stakes in the company to a pair of private equity firms: "Bloomberg" reports that, according to sources familiar with the matter, there will be an investment that will help the troubled music-streaming service keep operating for the foreseeable future.

The two firms would be acquiring stakes via separate deals, said the people, who asked not to be identified discussing private transactions. The names of the interested parties or the sizes of the transactions couldn’t immediately be obtained. The two private equity firms, together, would own a majority of SoundCloud. The talks are at an advanced stage, but they could still fall apart.

SoundCloud operates one of the most popular music services in the world, attracting 175 million users with rough cuts from famous artists and mixes from unknown DJs. Yet SoundCloud, founded in Stockholm and now based in Berlin, has failed to generate much money from those users or build a business that can sustain itself.

© 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.