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Thursday, July 13, 2017

Will The Music Giant Shut Down?

I don't know how true it is, according to a TechCrunch report released on Thursday, July 12, someone from among the highest ranks of the company gave it 50 days before SoundCloud sees the total depletion of its funds.

The fast approaching deadline was announced during an urgent conference call held by co-founders Alexander Ljung and Eric Wahlforss on Monday. SoundCloud just recently made headlines when the company's leadership laid off 40% of its employees amid financial struggles to stay afloat. The conference call was scheduled in order to catch remaining staff up to speed with the future of the company in its tumultuous times.

A SoundCloud representative has since batted the TechCrunch article down, by citing "a misinterpretation of information by one or two laid off employees during a recent all-hands meeting." The specific wording that was reportedly used by the staff member, was that SoundCloud was only funded "until" the 4th quarter. The SoundCloud rep clarifies that the company is actually fully funded "through" Q4.

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