The SoundCloud saga has been a lengthy affair. While the future of the company has always been a matter of grave concern within the music and business industry likewise, the Berlin-based music service has recently made some notable strides with a $70 million investment from Twitter alongside forging deals with major music labels like Universal Music Group, Warner Music Group and Sony Music.
And now as per a recent report by Bloomberg, the company is looking forward to a mammoth sale which could push their evaluation to $1 billion. As they look for ways to boost growth and profit, SoundCloud and investment company Doughty Hanson & Co. “are exploring strategic options for the company that could lead to a sale”. But as sources say, finding a buyer has been difficult till now who would be ready to agree to the asked price.
With no further updates on the news, stay tuned as SoundCloud are yet to release an official statement!
Source: Bloomberg
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