January 6, 2017    1 minute read

Soundcloud Running Out Of Money

   January 6, 2017    1 minute read

Soundcloud Running Out Of Money

Following a €51m loss in 2015, auditors and directors have stated that the music streaming service may not be possible to continue as a going concern.

Editor’s Remarks: According to the annual accounts of Soundcloud, registered with Companies House in the UK, directors believe the tech company would “have sufficient funds to meet its liabilities, however risks and uncertainties may cause the company to run out of cash… and would require to raise additional funds which are not currently planned.” As Soundcloud tries to compete with Spotify and Apple Music with its Soundcloud Go $9.99 monthly service, there are rumours that Google was interested in purchasing the Berlin based company at half of its $1bn valuation the preceding year.

What to watch: Soundcloud, Spotify, Apple Music, Google

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