The Internet has been in a state of sheer panic this week, after reports surfaced that SoundCloud had barely scraped up enough funding to last for the next 50 days. This wasn’t the first news of a decline for the company in 2017. Earlier this month, the streaming service announced that it would be laying off 40 percent of its staff and closing two of its four main offices. Podcasters, producers, and musicians alike pondered the fate of their work on the website, and the effects that a SoundCloud shut down would have on their careers. Some artists weren’t so easily dissuaded, however. Chance the Rapper, the poster child for independent artist success, took to Twitter earlier today, vowing to work with SoundCloud in an effort to revive the streaming service.

 

Shortly after, Soundcloud CEO, Alex Ljung, released a statement on the company’s behalf, assuring fans that the company had no intentions of shutting down in the foreseeable future.

There’s an insane amount of noise about SoundCloud in the world right now. And it’s just that, noise. The music you love on SoundCloud isn’t going away, the music you shared or uploaded isn’t going away, because SoundCloud is not going away. Not in 50 days, not in 80 days or anytime in the foreseeable future. Your music is safe.

The CEO praised subscribers and artists who contributed to the company’s success and longevity.

Thank you for the outpouring of love and support. Some of you have asked how you can help–spread the word that we’re not going anywhere and keep doing what you’re doing–creating, listening, uploading, sharing, liking, and discovering what’s new, now and next in music. SoundCloud is here to stay.

With over 175 million monthly users, SoundCloud has become a second home to artists from around the world. We’re happy (and relieved) to know it won’t be disappearing any time soon.

Read the full statement here.