ignatius Posted January 9, 2024 Report Share Posted January 9, 2024 lmao. who's gonna pay for that? it'd be like buying a broken boat. https://ra.co/news/80033 Quote Music streaming giant SoundCloud is up for sale, Sky News reports. The deal is currently being handled by US merchant bank The Raine Group and Singaporean state investment fund Temasek Holdings, which both invested in SoundCloud in 2017. According to Sky News, the two companies have started interviewing investment banks about a prospective sale later this year. SoundCloud is expected to fetch in excess of $1 billion. News of the sale speaks to a turnaround in SoundCloud's fortunes in recent years. Before $170 million arrived in 2017, the company was facing huge debts and an uncertain future. But while the finances are more stable now under latest CEO Eliah Seton, there have still been staff lay-offs—20 percent in August 2022, followed by another eight percent in May 2023. Since launching in Berlin in 2007, SoundCloud has hosted 320 million tracks from more than 40 million artists. Resident Advisor has approached SoundCloud for comment. We'll report more on this story as it unfolds. Expand toaoaoad, beerwolf and Caged Element 1 2 Thanks Haha Confused Sad Facepalm Burger Farnsworth Big Brain Like × Quote Hide ignatius's signature Hide all signatures Releases Sample LIbraries instagram Cascade Data Mastodon Reveal hidden contents "All I know about you is what a knock off Autechre lite artist you are, how many you put out?> same with your fucking mindset, vanilla...........goodnight." - arti Link to comment https://forum.watmm.com/topic/104480-soundcloud-for-sale-for-1-billion/ Share on other sites More sharing options...
toaoaoad Posted January 9, 2024 Report Share Posted January 9, 2024 Maybe musk will buy it ignatius 1 Thanks Haha Confused Sad Facepalm Burger Farnsworth Big Brain Like × Quote Link to comment https://forum.watmm.com/topic/104480-soundcloud-for-sale-for-1-billion/#findComment-2968832 Share on other sites More sharing options...
DavieAddison Posted January 9, 2024 Report Share Posted January 9, 2024 On 1/9/2024 at 3:31 AM, toaoaoad said: Maybe musk will buy it And force that shitty song he made onto everyone's feed ignatius, toaoaoad, Caged Element and 1 other 3 1 Thanks Haha Confused Sad Facepalm Burger Farnsworth Big Brain Like × Quote Hide DavieAddison's signature Hide all signatures Spotify | Apple Music | Bandcamp | Soundcloud Link to comment https://forum.watmm.com/topic/104480-soundcloud-for-sale-for-1-billion/#findComment-2968835 Share on other sites More sharing options...
iococoi Posted January 13, 2024 Report Share Posted January 13, 2024 Quote Tuesday, Jan. 9 Tom Sansone has been named SoundCloud‘s new chief financial officer/chief operating officer, it was announced Tuesday by CEO Eliah Seton. “Tom is a proven global executive with a highly differentiated and relevant skill set that includes accelerating business transformation, establishing operational and financial discipline and executing strategic alternatives,” said Seton in a statement. “Now that we are a profitable growth company and in control of our own destiny, Tom will be a key partner in helping us realize SoundCloud’s unique opportunity and industry-changing vision.” Sansone brings more than 20 years of global financial and operational experience. For the last seven years, Sansone served as CFO of Kobalt Music Group where he was a key architect of the company’s restructuring and profitable growth and capital planning. Before that, Sansone was COO and CFO of Gilt Groupe. Sansone will now help drive the execution of SoundCloud’s operational rigor, corporate development, mergers and acquisitions, in addition to assuming responsibility for its financial performance and capital structuring. He will report directly to Seton. Added Sansone, “I am passionate about helping businesses realize their potential and am incredibly excited about the opportunities for SoundCloud. The evolution of the business has been exciting to see and the company remains one of the most trusted brands for creators and super fans of music discovery. I’m looking forward to working with an incredible leadership team and Board to execute on the strategy to empower artists and fans to share and connect through music and to build on our strong financial footing.” Expand Thanks Haha Confused Sad Facepalm Burger Farnsworth Big Brain Like × Quote Link to comment https://forum.watmm.com/topic/104480-soundcloud-for-sale-for-1-billion/#findComment-2969215 Share on other sites More sharing options...
iococoi Posted January 14, 2024 Report Share Posted January 14, 2024 thats interesting. i was looking up this kobalt music group mentioned above...just recently they had a big merger/take-over going on.. with pending acquisitions in the planning Quote “We believe Kobalt is and should be the premier platform for independent creators, and we look forward to helping them achieve this both organically and inorganically,” he said. ‘Inorganically’ hints at an appetite for acquisitions in the months ahead. from https://musically.com/2022/09/08/investment-firm-francisco-partners-buys-controlling-stake-in-kobalt additional https://www.musicbusinessworldwide.com/kobalt-music-group-sold-to-us-based-private-equity-firm-francisco-partners/ ignatius 1 Thanks Haha Confused Sad Facepalm Burger Farnsworth Big Brain Like × Quote Link to comment https://forum.watmm.com/topic/104480-soundcloud-for-sale-for-1-billion/#findComment-2969252 Share on other sites More sharing options...
iococoi Posted January 15, 2024 Report Share Posted January 15, 2024 talk about "fall into place" Quote Music streaming service SoundCloud signed a sublease with Kobalt Music Group for 23,000 square feet on the entire sixth floor of William Kaufman Organization’s 2 Gansevoort Street, according to sources with knowledge of the deal. https://commercialobserver.com/2023/11/soundcloud-lease-2-gansevoort-street/ Thanks Haha Confused Sad Facepalm Burger Farnsworth Big Brain Like × Quote Link to comment https://forum.watmm.com/topic/104480-soundcloud-for-sale-for-1-billion/#findComment-2969307 Share on other sites More sharing options...
Recommended Posts