SoylentNews
SoylentNews is people
https://soylentnews.org/

mrpg writes:

Music hosting biz SoundCloud, having just axed 40 per cent of its staff, is now trying to ward off rumors that it will go broke in less than two months.

The song-sharing service was rumored to be in crisis mode and had to shut its doors, with just 50 days of funding left before it ran out of cash. A spokesperson insisted Thursday, however, that this is not the case, and that following last week's layoffs, SoundCloud is going to be able to turn a profit soon.

[...] This comes as SoundCloud struggles to get its advertising and subscription revenues up high enough to push the music-sharing service into the black. Since 2008, the company has relied on VC funding to stay afloat and, after nine years, is still trying to turn a profit.

https://www.theregister.co.uk/2017/07/13/soundcloud_insists_not_dying/

Previously:
SoundCloud is Cutting Nearly 40 Percent of its Staff

Original Submission

1. "mrpg" - https://soylentnews.org/~mrpg/
2. "layoffs" - https://www.theregister.co.uk/2017/07/07/soundcloud_flounders_lays_off_40_of_staff/
3. "SoundCloud is Cutting Nearly 40 Percent of its Staff" - https://soylentnews.org/article.pl?sid=17/07/07/0226254
4. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=21237

printed from SoylentNews, All Your Bass are Belong to Us: Soundcloud Fans Raid Site for Music Amid Fears of Total Collapse on 2024-04-24 01:11:19