[ENTERTAINMENT] SOUNDCLOUD CEO ALEX LJUNG RESPONDS TO BANKRUPTCY AND SHUT DOWN RUMORS OF HIS STREAMING WEBSITE, CHANCE THE RAPPER PLEDGES FINANCIAL SUPPORT.

[ENTERTAINMENT] SOUNDCLOUD CEO ALEX LJUNG RESPONDS TO BANKRUPTCY AND SHUT DOWN RUMORS OF HIS STREAMING WEBSITE, CHANCE THE RAPPER PLEDGES FINANCIAL SUPPORT.

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Tuesday, 18 July 2017
ENTERTAINMENT

SoundCloud CEO Alex Ljung is battling back against persistent shutdown rumors that includes information pointing to a near-term shutdown of the entire operation within 50 days.  Just last week, the company laid off 173 employees and shut down two soundcloud offices.  Lavish offices, pricey employee perks, and expensive licensing deals with persistent losses were blamed.

 

The embattled chief issued this official statement.

SoundCloud is here to stay.

 

Hey everyone,

 

There’s an insane amount of noise about SoundCloud in the world right now.  And it’s just that, noise.  The music you love on SoundCloud isn’t going away, the music you shared or uploaded isn’t going away, because SoundCloud is not going away.  Not in 50 days, not in 80 days or anytime in the foreseeable future.

 

Your music is safe.

 

Along with each of you, we’ve built this incredible creative community of artists, podcasters, DJs, producers and more who are the driving force in pushing culture forward in the world. That’s not going to change. Last week we had to make some tough decisions to let go of some of our staff, but we did this to ensure SoundCloud remains a strong, independent company.

 

Thank you for the outpouring of love and support. Some of you have asked how you can help – spread the word

Subscribers and fans are still speculative about authenticity of Chance the rapper coming to save the online streaming service from collapse but on thursday, the rapper tweeted:

 

It isn’t clear if the musician might have given some extra financial support to the company, but he’s credited the platform for helping upcoming artists gain stardom in the past.

Stay tuned to the Brand radio as this story unfolds.

©thebrandradio 2017. All

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