Soundcloud Lives On With New Multi-Million Dollar Investment

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  • August 16, 2017

Soundcloud, who have long been an important player in streaming has secured a lifeline with $169.5 million investment.
 

Soundcloud stays in the streaming game with a lifesaving cash injection, much to the relief of audio creators and consumers the world over.

The streaming service secured the support of merchant bank, the Raine Group and Singapore-based investment group, Temasek.

There will be changes though, with long-term CEO Alexander Ljung becoming Chairman of the Board and Kerry Trainor filling the CEO role.

According to its blog, Soundcloud will have a “strong, independent future” which seems to be in keeping with investments by the Raine Group, who have partnered with Vice Media, Imagine Entertainment and Lollapalooza among others.

Via Fact Mag.

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Dan Shaw is recording and mixing engineer at Enmore Audio. He also plays bass in Wells and Circle.

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