SoundCloud se venderá por más de mil millones de dólares.

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La plataforma de streaming despidió al 8% de su plantilla a nivel mundial el año pasado

Según Sky News, SoundCloud, one of the world’s leading music streaming services and a favorite among independent artists, is preparing for its sale.

In its article, the British media outlet reports that it has received word of two investment banks preparing a possible auction for the streaming service: apparently, the US group Raine Group and the state investment fund of Singapore Temasek Holdings have been interviewing investment banks for a possible auction later this year.

It is worth noting that in 2017, SoundCloud was saved from bankruptcy after Raine Group and Temasek Holdings invested 170 million dollars in the company. At that time, the streaming company was valued at around 300 million dollars.

Since then, SoundCloud laid off 20% of its staff in 2022 and subsequently 8% of its staff worldwide in May of last year, with the aim of saving costs and increasing profitability.

SoundCloud CEO Eliah Seton commented on their business model: “This is a challenging but essential decision to ensure the health of our business and make SoundCloud profitable this year. In doing so, we are securing the future of the company for the millions of artists who trust us for their livelihood and self-expression, and the millions of fans who come to SoundCloud for the joy of music.”

Therefore, we may be facing a ‘before’ and ‘after’ of the SoundCloud era, especially for all those who do not have a major label behind them and use the platform as their main means of getting known.