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Music News

Soundcloud get tens of millions in investment: safe for now

Soundcloud get tens of millions in investment: safe for now
There’s not been much good Soundcloud news recently, what with them sacking 40% of the staff and closing branches. It was even reported they were running out of money and might have to shut.
 
Well, if you have your tunes on Soundcloud worry a bit less, because Raine Bank, a US firm who like trendy web companies, and Temasek have invested nearly $170 million into it. Coupled with a new CEO, things should be safe for you for a while.
 
Of course, things would have been better if they’d been able to be purchased by Spotify, who pulled out worried that Soundcloud would hurt them.

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