http://gizmodo.com/streaming-music-serv ... 1793612699
In a nut-shell:
Anybody use it here regularly? I know most of the PropShop audio examples (from Props as well as RE devs, Refill houses, etc) use SoudCloud to host/stream their examples. This could be messy....On Thursday, the streaming music service mostly known as a place to hear podcasts and remixes from unknown DJs confirmed that it had taken $70 million in debt funding—basically a loan from various investors—in order to stay in business.
It’s never a good sign when venture-backed companies have to raise money from debt financing groups, because it indicates that traditional investors don’t have much hope for the company. This appears to be the case for SoundCloud, as TechCrunch reports that the debt funding was raised because the company couldn’t close a $100 million round of funding. Back in February, when SoundCloud released its 2015 financial information, we found out that the company had lost $55 million for the year and was at the risk of running out of cash.
Yet, while having an extra $70 million is certainly helpful, it’s probably not going to be enough to save SoundCloud from the fate of Rdio, Grooveshark, MOG, and other failed music streaming services.
*UPDATE* 8/12/2017
Looks like they got bought out, similar to Propellerhead's Verdane investment:
http://www.factmag.com/2017/08/11/sound ... ment-deal/