The future of SoundCloud has been a topic of discussion for some time. Whether it be regarding deals with major labels or an investment from Twitter. And now there are reports the German company wants to sell.
A report from Bloomberg has alleged that German streaming site Sound Cloud is considering a sale of the company. With an evaluation of $1 billion USD. Sound Cloud Go and reportedly received a $70 million USD investment from Twitter in June.
The company has yet to find a buyer who values that company at $1 billion. According to company sources, the site was valued at $700 million following the Twitter investment.
After a collective 14 years, Thomson and the Swedes split in the summer of 2018. Having also held managerial ranks for Kanye West and Gorillaz. Thomson now serves as the CEO for ATM Artists, where she heads all marketing services for artists like DJ Snake.
Warner Music Group, and Sony Music.
The owners have trouble finding a buyer willing to value the company at $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. A person familiar with the matter said.
Sound Cloud is working to bring about reliable revenue from its approximately 175 million users. Who spend time on the site to record, listen to and share songs. Sound Cloud introduced a premium service in March, giving consumers to pay $10 a month. For ad-free streaming and increased access to songs.
A representative for the company and a spokesman for Doughty Hanson didn’t immediately respond to requests for comment.
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.