SoundCloud Only Has Enough Money to Last Until Q4


SoundCloud stays in dire straits. the previous day (July 12), it became revealed the streaming platform handiest has enough investment to closing till the fourth area of 2017.
the parents at TechCrunch file the startup addressed last week’s layoffs—which slashed forty percentage of SoundCloud’s group of workers—for the duration of a “tense” meeting with its employees and previous employees the day gone by. apparently, folks that have been laid off desired factors for why they have been given no caution before they have been reduce, and the last personnel wanted to be reassured the team of workers cuts could hold their jobs for the long time.
regrettably, neither organization clearly got the answers they desired. SoundCloud founders Alex Ljung and Eric Wahlforss found out that notwithstanding their intentions, their platform simplest have enough price range to last until this yr’s fourth area, which, consistent with TechCrunch, starts offevolved in 50 days. The streaming service’s PR confirmed to TechCrunch that SoundCloud does, indeed, simplest have funding into the fourth region of this yr, but they’re talking to buyers.
This information seems to contradict Ljung’s weblog post that claimed layoffs at the organisation’s San Francisco and London places of work would keep the brand afloat. “by way of lowering our charges and continuing our sales boom, we’re on our course to profitability and in control of SoundCloud’s unbiased destiny,” Ljung wrote in a submit the day of the layoffs.
TechCrunch notes that some nameless SoundCloud employees left the meeting feeling discouraged, feeling the corporation’s message approximately own family to be a disingenuous one.
“I don’t trust that humans will live. the coolest humans at SoundCloud will depart,” the worker explained. “Eric [Wahlforss] stated some thing approximately the SoundCloud ‘family,’ and there have been laughs. You simply fired 173 human beings of the family, how the fuck are you going to talk about family?”
SoundCloud is coming off launching a new song discovery app multiple months in the past, and at one factor became in talks to be sold through Spotify, but now they appear to be in some very severe problem. if you have music you like on there, higher start downloading it now.

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