1. ANNOUNCES IT STAYS IN THE MARKET.
SoundCloud by TORLEY http://bit.ly/2uBFGgu
(CC BY-SA 2.0)
2. Being the world’s largest music and audio platform, SoundCloud lets
people discover and enjoy the greatest selection of music from the most
diverse creator community on earth. It lets users share music and
connect directly with artists, as well as unearth breakthrough tracks, raw
demos, podcasts and more. This is made possible by an open platform
that directly connects creators and their fans across the globe. Music and
audio creators use SoundCloud to both share and monetise their content
with a global audience, as well as receive detailed stats and feedback
from the SoundCloud community.
3. Just about one month ago SoundCloud decided to let go over 40% of their
staff due to money problems the company was experiencing.
According to some reports, they only had enough funds to keep going for
a few more months, which created some rumors that it would cause the
company to disappear.
The Raine Group a “global merchant bank” and a Singapore-based
investment company called Temasek came with a life-saving investment
of $170 million. Their decision was viewed as a do-or-die moment for the
company. Now it will have the opportunity to try to right the ship, or sail
into an established port via acquisition.
4. The way the company is planning to solve their problems is by bringing in:
Former Vimeo executives
Kerry Trainor will come in as CEO
Michael Weissman will be named COO
While SoundCloud co-founders
Alexander Ljung will step down as CEO and become chairman of the
board
Eric Wahlforss will stay on as chief product officer
This with the intention to “ensure a strong, independent future” for the
company, while also “funding deeper development and marketing of its
core tools used by millions of audio creators.”
5. Why was the company doing so bad if it’s used by so many users?
Do you think with the new changes it will start to do good?
Why would investors see it as a good chance to improve the platform?
Questions
6. Works Cited
Barsanti, Sam. “SoundCloud Gets a Last-Minute Reprieve.” The A.V. Club, 13 Aug. 2017.
Howerter, Ryan. “Soundcloud Logo in Lego.” Flickr, Yahoo!, 19 Sept. 2014.
“SoundCloud » Exciting News and the Future of SoundCloud.” SoundCloud.
TORLEY. “SoundCloud.” Flickr, Yahoo!, 19 Nov. 2008.
SoundCloud logo in Lego by Ryan Howerter
http://bit.ly/2w2tLbV
(CC BY-NC-SA 2.0)
