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Chance the Rapper Hints At Buying SoundCloud

SoundCloud has reportedly let go 40% of its staff. Since recent rumours of bankruptcy have been circulating, Co-founder Alexander Ljung has reported said the company only has money for 50 days.

Although these reports have come as a shock to everyone. It is a company that has so many competitors. TechCrunch broke the news on Wednesday and have since haven’t spoken to the CEO Alexander Ljung, ‘sources at SoundCloud tell TechCrunch that founders Alex Ljung and Eric Wahlforss confessed the layoffs only saved the company enough money to have runway “until Q4”. That seems to conflict with the statement Ljung released alongside the layoffs, which noted that, with more focus and a need to think about the long term, comes tough decisions.’

Following both statements Chance the Rapper has tweeted ‘I'm working on the SoundCloud thing’. Chance being an independent artist knows the importance of having a platform for beginners, in the music industry being able to share their art for free.

SoundCloud gained 175 million unique monthly listeners since 2014, and has since gained more. Let’s hope for the best.

 

#KeepItOnTheBeat for more updates

 

Words: Shanakay Gordon

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