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tinyfav.com October 20, 2017


SoundCloud lays off 40% of its staff and closes two offices

08 July 2017, 12:41 | Melanie Burgess

Getty Image Getty SoundCloud CEO Alex Ljung with Vic Mensa

Getty Image  Getty  SoundCloud CEO Alex Ljung with Vic Mensa

The London and San Francisco offices - home to around 20-25 people each - are shutting down as part of the restructure.

"We need to ensure our path to long-term, independent success", Alex Ljung, the company's co-founder and chief executive officer, said in the blog post. However, we need to ensure our path to long-term, independent success. SoundCloud's failure to turn its 175 million unique monthly listeners into a profitable business is nonetheless instructive of the sector's challenging economics.

SoundCloud began as a streaming service that was free, but introduced advertisements during 2015, prior to the launch of a subscription service for music streaming, which was launched during March of 2016 to compete with Apple Music, Amazon Music and Spotify.

The German service will reduce its presence to only two offices, in Berlin and NY, according to a blog post from one of its founders, Alex Ljung.

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In a bid to shore-up the loss-making company, streaming platform SoundCloud confirmed late on Thursday it has eliminated 173 of its 420 staff positions - a move that will see more than 40 percent of its staff leave.

Wahlforss added: "I go there [London] regularly and it's a crucial place for us to be as a global platform".

However, the future of SoundCloud has been a debate for quite some time due to the struggles of the company to find a source of revenue that is reliable.

SoundCloud was supposed to have led a new round of industry consolidation, but the streaming service has instead committed itself to isolation.

SoundCloud bagged $2.5m of Series A funding from Doughty Hanson Technology Ventures in 2009; raised $10m Series B investment from Union Square Ventures in 2010; and took in $60m in 2014.



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