Some news came across my twitter timeline today stating that the music website Soundcloud only has enough money to last 80 days according to sources. The company recently laid off 40 percent of its staff last week, and that’s why this claim popped up today.
Apparently, the staff received no warning when they received the news and Soundcloud founders Alex Ljung and Eric Wahlforss admitted the layoffs would only buy the company until Q4.
Whether this news is true or not, it still sucks for the former employees as well as the current employees. I would imagine the current atmosphere to be very bad. One employee who didn’t get canned told TechCrunch that other employees are quitting who didn’t get fired.
If Soundcloud goes away, this would be a major blow for upcoming artists as well as already established artists. Regardless of the constant jokes about soundcloud rappers, many artists have been discovered through the platform. Soundcloud even went as far as having Soundcloud Go to try and get more money. Many say that Soundcloud lost its focus as they started catering more towards the label artists.
Hosting GI Radio without Soundcloud would make things difficult for me. Making playlists was a breeze! I hope the company can stay afloat.