SoundCloud is a European online audio distribution platform and music sharing website based in Berlin, Germany that enables its users to upload, promote, and share audio. Started in 2007 by Alexander Ljung and Eric Wahlforss, SoundCloud has grown to be one of the largest music streaming services in the market reaching over 175 million monthly users worldwide.[5] SoundCloud offers both free and paid membership on the platform, available for desktop or mobile device... In Spring 2017, SoundCloud initially faced being sold after not raising the $100 million dollars needed to support the platform.[23] The initial evaluation of Soundcloud at $700 million did not hold as strong to investors after their financial shortages.[23] $169.5 million was raised in the fourth quarter of the year by Temasek and Raine Group to keep the platform afloat.[24] Along with the investment there was a shift in the management, mainly involving Alexander Ljung leaving the company and Mike Weissman becoming the COO.[24] In July 2017, SoundCloud announced that it would close its San Francisco and London offices and lay off 173 out of 420 employees in an effort to become profitable, with the remaining staff operating out of offices in Berlin and New York.[25][26][27] In August 2017, SoundCloud announced that CEO Alex Ljung will step down from his role, with former Vimeo CEO Kerry Trainor replacing him.[28]

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