Soundcloud for sale for $1 billion say reports
According to reports, Soundcloud for sale at $ 1 billion could officially be a thing. The future of Soundcloud and its success has been a regular on the music industry news blogosphere.
The music sharing and streaming site is a home for many underground music lovers and up and coming music producers and DJs. Its existence is instrumental in the world of electronic dance music, positioning Souncloud as a platform that is influential and significant.
If the owners have Soundcloud for sale at $ 1 billion dollars then walking away with that amount would be a cosy closing to all of their efforts in keeping the business afloat.
The ad free subscription feature on Soundcloud kicked off in March this year after they secured licensing deals with Universal Music Group, Warner Music Group and Sony Music. We reported on this earlier this year.
According to Bloomberg sources though, the only drawback seems to be the lack of buyers willing to pay the requested amount. The discussion on Soundcloud for sale is still an open ended one with the company and investor Doughty Hanson & Co. “exploring strategic options”.
Soundcloud claims its value to be at one billion dollars and they hope to increase this growth and profit through their users.
Previously, social media site Twitter was pegged to buy the music streaming site but the deal did not go through.
They did however end up investing seventy million dollars into the company during last month stating that they wanted to “enable SoundCloud to remain focused on building value for creators and listeners alike”.
While Soundcloud for sale is being talked about in the news, the company has yet to confirm any of these details.