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SoundCloud saved by emergency funding as CEO steps aside

Original story at TechCrunch• 75 mentions • 2 months ago

TechCrunch 2 months ago

 
SoundCloud has just closed the necessary funding round to keep the struggling music service afloat. CEO Alex Ljung will step aside though remain chairman as former Vimeo CEO Kerry Trainor replaces him. Mike Weissman will become COO as co-founder and CTO Eric Wahlforss becomes chief product officer. Raine Group and Temasek have stepped in to lead the new funding round. SoundCloud laid off 40% of its stock last month, with 173 employees departing in an effort to cut costs. The company only had enough runway left to last into Q4, and today’s investor decision was viewed as a do-or-die moment ...
 
 
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What they're saying:

20 Aug
Dr, Karl Popp @karl_popp
SoundCloud saved by emergency funding as CEO steps aside - TechCrunch https://t.co/UC0QAmaXGH
16 Aug
Kim Fox @KimFoxWOSU
ICYMI - from Aug. 11. | @SoundCloud saved by emergency funding as CEO steps aside https://t.co/767OevVcAb https://t.co/PVMRJD1v02
14 Aug
MediaShift @MediaShiftOrg
SoundCloud saved by emergency funding as CEO steps aside https://t.co/63Q3MYEjS7
14 Aug
Liberationtech @Liberationtech
SoundCloud saved by emergency funding as CEO steps aside https://t.co/KwA0CjDFPD https://t.co/AetduKvopl
14 Aug
Rylan Holey @holeytonal
So happy to hear #SoundCloud is safe. Hope they can come up with a commercial model that works for it long term. https://t.co/FfzY9Zm1qL
13 Aug
Michael Fauscette @mfauscette
#SoundCloud saved by emergency funding as CEO steps aside https://t.co/HDoBh0prXU
13 Aug
AbolishTheFed @AbolishTheFed
#SoundCloud saved by emergency funding as CEO steps aside https://t.co/MGDsgQnXdU #technical #feedly
13 Aug
Rick Robinson @itsRickRobinson
SoundCloud saved by emergency funding as CEO steps aside https://t.co/bziSMtYKT0 https://t.co/fBMhc6BRGt
13 Aug
Kirill Sheynkman @sheynkman
Would be fun to read the fine print on that term sheet: SoundCloud saved by emergency funding as CEO steps aside https://t.co/qIdI8MSOAL
12 Aug
Nicky Digital @NickyDigital
RT @retroglo: SoundCloud saved by emergency funding as CEO steps aside https://t.co/MG0pxJ7POx via @techcrunch
12 Aug
Tim Bush @tbush
SoundCloud saved by emergency funding as CEO steps aside https://t.co/4W48axWLhu
12 Aug
skry @skry
SoundCloud saved by emergency funding as CEO steps aside https://t.co/ZA6AbNyy86 via @techcrunch
12 Aug
Digg Tech @diggtech
SoundCloud saved by emergency funding as CEO steps aside https://t.co/iu9bET83aT
12 Aug
Renato Carvalho @renatolz
RT @dhh: SoundCloud gets the last minute investment. Valuation cratering from $700m to $169m. CEO+COO both replaced. https://t.co/Yvj4TInAir
12 Aug
Jen Stirrup @jenstirrup
Tech Leaders news: SoundCloud saved by emergency funding as CEO steps aside | … https://t.co/PUVAsBBNMJ, see more https://t.co/9WUo57Kms7
12 Aug
Jeremy Kagan @KaganJ
RT @dhh: SoundCloud gets the last minute investment. Valuation cratering from $700m to $169m. CEO+COO both replaced. https://t.co/Yvj4TInAir
12 Aug
Jordi Cabot @softmodeling
RT @dhh: SoundCloud gets the last minute investment. Valuation cratering from $700m to $169m. CEO+COO both replaced. https://t.co/Yvj4TInAir
12 Aug
Merrill Barr @MerrillBarr
SoundCloud saved by emergency funding as CEO steps aside https://t.co/GRUzyV00cC # via @techcrunch
12 Aug
Corporate Governance @ToGovern
RT @iosentinel: SoundCloud saved by emergency funding as CEO steps aside #soundcloud #ceo https://t.co/ccsiCwW2mX @iosentinel
12 Aug
Vivek Girotra @vivekgirotra
SoundCloud saved by emergency funding as CEO steps aside - https://t.co/9fGhrArOyf
12 Aug
Oli Young 🏳️‍🌈 @oliyoung
“raising $169.5 million at a $150 million pre-money valuation” https://t.co/MgzXIzVOwr
12 Aug
Daniel Hudson @webtechman
RT @newsycombinator: SoundCloud saved by emergency funding as CEO steps aside https://t.co/mQxnYrTjTP
12 Aug
임정욱 / Jungwook Lim @estima7
문을 닫을 줄 알았던 베를린 스타트업 사운드클라우드가 거의 2천억원에 가까운 긴급펀딩으로 기사회생 https://t.co/4T5KaqqpQa 하지만 밸류에이션은 약 7분지 1로 추락. 어쨌든 이 정도 돈이 펀딩이 된다는 자체가 신기.
11 Aug
akiatoji @akiatoji
SoundCloud最後の最後で投資が間に合ったのか。CEOとCOOは退任らしいけど従業員4割カットで$170Mの投資ならしばらく持ちこたえれるんでないのか。https://t.co/ccI65v7RON
11 Aug
Geoffrey Colon @djgeoffe
RT @dhh: SoundCloud gets the last minute investment. Valuation cratering from $700m to $169m. CEO+COO both replaced. https://t.co/Yvj4TInAir
11 Aug
DHH @dhh
SoundCloud gets the last minute investment. Valuation cratering from $700m to $169m. CEO+COO both replaced. https://t.co/Yvj4TInAir
11 Aug
Jeff Parks @jeffparks
RT @TechCrunch: SoundCloud saved by emergency funding as CEO steps aside https://t.co/wAdNzaDFN6 by @joshconstine https://t.co/dLr8kwEXO2
11 Aug
Garry Jenkin @grjenkin
Top story: SoundCloud saved by emergency funding as CEO steps aside | TechCru… https://t.co/GxBvbZbwDC, see more https://t.co/LScWw6oC5M
11 Aug
Pink Dolphin Music @PinkDolphinMLtd
RT @chriseuton: SoundCloud saved by emergency funding as CEO steps aside https://t.co/8DiimlRZ0N via @techcrunch #soundcloud
11 Aug
Stefania Lintonbon @stefsvoice
Looks like @SoundCloud lives to see the sun rise! Yayyy! 😊 @NetworkVO @rogerwoodsvo @ChatterboxVO @VolcanicVO https://t.co/r9eLkvDz54
11 Aug
EagleStar.NET @EagleStarNET
SoundCloud saved by emergency funding as CEO steps aside https://t.co/fTK3BbB282
11 Aug
Tracey Ryniec @TraceyRyniec
Here's more. Revenue of about $100 million. SoundCloud saved by emergency funding as CEO steps aside https://t.co/WKFMYYVheK
11 Aug
Camilo Salazar @salazarparis
SoundCloud saved by emergency funding as CEO steps aside https://t.co/G0EFM6k4Yl via @techcrunch
11 Aug
BlackSuit Labs @BlackSuitLabs
#TechNews #trending SoundCloud saved by emergency funding as CEO steps aside https://t.co/qUln4CYUNZ
11 Aug
Brady J. Frey @bradyjfrey
SoundCloud saved by emergency funding as CEO steps aside https://t.co/Ulr9RIYJJg
11 Aug
Dolly Bhasin @dbhasin
Top story: SoundCloud saved by emergency funding as CEO steps aside | TechCru… https://t.co/CCunH4fMkD, see more https://t.co/cBB8ImyFqU
11 Aug
Craig Fisher @Fishdogs
SoundCloud saved by emergency funding as CEO steps aside -  SoundCloud has just closed the necessary funding ro... https://t.co/zHjTPuA5l2
11 Aug
Colin Christianson @ColinAC
SoundCloud saved by emergency funding as CEO steps aside https://t.co/xTQHouGRSP https://t.co/mOrQA9JqRD
11 Aug
Web Synergies @SingaporeITServ
SoundCloud saved by emergency funding as CEO steps aside https://t.co/AyhBN6XBQk
11 Aug
GTGTGTGTGTGTGTGTGTGT @gimmetinnitus
SoundCloud saved by emergency funding as CEO steps aside https://t.co/ANcCWUlS3O via @techcrunch
11 Aug
Lillian Wong @lillianwong
SoundCloud saved by emergency funding as CEO steps aside https://t.co/srMs84ums2
11 Aug
Jake Wengroff @JakeWengroff
Via @TechCrunch SoundCloud saved by emergency funding as CEO steps aside https://t.co/6Z3RyOHdam
11 Aug
Joshua Salmons @salemonz
via @TechCrunch // SoundCloud saved by emergency funding as CEO steps aside https://t.co/Xv4AVXZ683
11 Aug
The Indie Bible @indiebible
RT @TechCrunch: SoundCloud saved by emergency funding as CEO steps aside https://t.co/wAdNzaDFN6 by @joshconstine https://t.co/dLr8kwEXO2
11 Aug
Rick Webb @RickWebb
Wow. SoundCloud saved by emergency funding as CEO steps aside - TechCrunch https://t.co/r5qzm3f239
11 Aug
Robin Wauters @robinwauters
RT @Techmeme: SoundCloud closes new funding round; Vimeo's Kerry Trainor replaces Alex Ljung as CEO https://t.co/VHS9ANEBWo https://t.co/jX
11 Aug
Robert Weißgraeber🇪🇺 @robert_we
RT @newsycombinator: SoundCloud saved by emergency funding as CEO steps aside https://t.co/mQxnYsaULn
11 Aug
Matthias Heil @MatthiasHeil
#Lesestoff: SoundCloud saved by emergency funding as CEO steps aside | TechCrunch >>> https://t.co/2NRXiHjBnJ
11 Aug
Jens Ohlig @johl
RT @TechCrunch: SoundCloud saved by emergency funding as CEO steps aside https://t.co/wAdNzaDFN6 by @joshconstine https://t.co/dLr8kwEXO2
11 Aug
Hacker News @newsycombinator
SoundCloud saved by emergency funding as CEO steps aside https://t.co/mQxnYsaULn
11 Aug
Brian Fanzo @iSocialFanz
SoundCloud saved by emergency funding as CEO steps aside https://t.co/QtK2tJ9LT4 - Wow good news for us who host po… https://t.co/Y1P6tnTOgu
11 Aug
Digital Revolution @DigitalRevAZ
SoundCloud saved by emergency funding as CEO steps aside https://t.co/QIUnyFTAkD https://t.co/aJci0MppYO
11 Aug
██████████ @thaitvnews
SoundCloud saved by emergency funding as CEO steps aside - TechCrunch https://t.co/r6n6Phe6Gp
11 Aug
David Bisset @dimensionmedia
Happy to hear Soundcloud is isn’t dead, one of the few independent startups i like. https://t.co/5W2ye6O70v
11 Aug
Pascal Rossini @pascalrossini
SoundCloud saved by emergency funding as CEO steps aside - TechCrunch https://t.co/fEKDvRwVGW
11 Aug
Daniel Tunkelang @dtunkelang
SoundCloud survives near-death experience. https://t.co/Vos8IDQ1xM
11 Aug
Vin Verma @VINNYVERMA
SoundCloud saved by emergency funding as CEO steps aside https://t.co/h050Uu5X4s
11 Aug
StrictlyVC @StrictlyVC
SoundCloud saved by emergency funding as CEO steps aside https://t.co/bDzH583GSq
11 Aug
Paolo Bruno @_BrunoPaolo_
#Tech #Nerd #Geek #MotherOfNerds SoundCloud saved by emergency funding as CEO steps aside https://t.co/kam2ENQAza
11 Aug
Tech news (BOT) @tek_news
HNews: SoundCloud saved by emergency funding as CEO steps aside https://t.co/2XBrYDFoZO
11 Aug
Ak Baş @wittich
SoundCloud saved by emergency funding as CEO steps aside https://t.co/q5bLbDgNck #tc
11 Aug
nmachi jidenma @nmachijidenma
SoundCloud saved by emergency funding as CEO steps aside https://t.co/0CFnaODTjd https://t.co/lg326blonk
11 Aug
Hacker News YC @newsycbot
SoundCloud saved by emergency funding as CEO steps aside https://t.co/bABao3oZpU (cmts https://t.co/iCR5H6PcgS)
11 Aug
TopBits @TopBits
RT @TechCrunch: SoundCloud saved by emergency funding as CEO steps aside https://t.co/wAdNzaDFN6 by @joshconstine https://t.co/dLr8kwEXO2
11 Aug
Nick Alt @nickalt
RT @TechCrunch: SoundCloud saved by emergency funding as CEO steps aside https://t.co/wAdNzaDFN6 by @joshconstine https://t.co/dLr8kwEXO2
11 Aug
Jason Hirschhorn @JasonHirschhorn
Congrats to @kerrytrainor and RAINE. SoundCloud saved by emergency funding as CEO steps aside. https://t.co/xNSpaxTGzn
11 Aug
Mediagazer @mediagazer
SoundCloud closes new funding round; Vimeo's Kerry Trainor replaces Alex Ljung as CEO https://t.co/WZEUrhkRfg https://t.co/yFrkX0YYpb
11 Aug
DeborahEdwards-Onoro @redcrew
RT @TechCrunch: SoundCloud saved by emergency funding as CEO steps aside https://t.co/wAdNzaDFN6 by @joshconstine https://t.co/dLr8kwEXO2
11 Aug
Tri-Learning @trilearning
SoundCloud saved by emergency funding as CEO steps aside #education https://t.co/0RxNfW8zRa
11 Aug
Nick Chater @nick_chater
SoundCloud saved by emergency funding as CEO steps aside https://t.co/Vr7c2RymHl #EdTech
11 Aug
Ryan Hoover @rrhoover
SoundCloud to fight another day! 🙏🏼 https://t.co/Pr0JFbXped by @JoshConstine
11 Aug
TechCrunch @TechCrunch
SoundCloud saved by emergency funding as CEO steps aside https://t.co/wAdNzaDFN6 by @joshconstine https://t.co/dLr8kwEXO2
11 Aug
Paul Lopez @lopezunwired
SoundCloud saved by emergency funding as CEO steps aside https://t.co/Z1Q8hBVosQ #tech https://t.co/aTwqFLeYEy
11 Aug
John Koetsier @johnkoetsier
SoundCloud saved by emergency funding as CEO steps aside https://t.co/Hoqm68tTpY https://t.co/2Fbgca88ZQ