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tonyPick [blogspot.co.uk] writes:

According to Techcrunch Soundcloud has secured the emergency funding [techcrunch.com] which will allow the service to survive:

SoundCloud has just closed the necessary funding round to keep the struggling music service afloat. CEO Alex Ljung will step aside though remain chairman as former Vimeo CEO Kerry Trainor replaces him. Mike Weissman will become COO as SoundCloud co-founder and CTO Eric Wahlforss stays as chief product officer.

Further coverage at Ars Technica [arstechnica.com] and BBC News [bbc.co.uk].

Soundcloud's layoff of 40% of staff [soylentnews.org] and the subsequent rumours of a collapse [soylentnews.org] have been covered here before.

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