If you haven’t heard, our beloved SoundCloud has been up for grabs; who wouldn’t want to own the best website out there? It’s a place where the newest and hottest music is found, and where dreams really do come true. Lots of our beloved DJ’s got their start on SoundCloud, so we would like to keep it around for a very long time.
Just a couple months back, Financial Times said that Spotify was thinking about acquiring SoundCloud, but has now pulled out of the deal. A source released that Spotify wasn’t ready to take on another “licensing headache in a potential IPO year.” In addition, SoundCloud has introduced a subscription service this year, shooting up their annual revenue by 43 perfect to a whopping $28 million, but have yet to report a profit.
Earlier this year, an auditing firm warned that SoundCloud needs to raise additional funds in order to remain financially stable. We’re hoping we can get a loving and caring owner for our esteemed SoundCloud – keep an eye out.