[Business Story] Who wants to dance with Soundcloud?
January 13, 2017
SoundCloud CEO and co-founder Alexander Ljung has been looking to sell his company as a Unicorn this past year, and was reported to be in advanced discussions with Spotify. But the streaming giant finally decided to let its prey go, though it appears that Ljung might fall for a rich American instead.
According to the FT, Google is considering a bid, but is hoping for a good bargain. Ljung is now ready to sell for half the asking price, and recently announced a gloomy financial situation: losses of $51M, scarcity of cash and a massive debt. SoundCloud’s silver lining resides in its assets specifically its 40M large base of registered users, and around 200M unique monthly visitors, and arguably one of the largest library of original music content from bedroom producers worldwide.
Enough to keep the party going?
Originally published at knowledge.fredfarid.com.