Report: Soundcloud Owners Explore Sale Of Company, Looking For $1 Billion For It
July 28, 2016 at 4:41 AM (PT)
BLOOMBERG reports that SOUNDCLOUD's owners may be looking to sell the streaming audio company and want $1 billion for it.
The company has hired DOUGHTY HANSON AND CO. to explore strategic options that could include selling the operation, but BLOOMBERG notes that the company has long been considering a sale and, while it got a $70 million investment from TWITTER in JUNE, it has not found any buyer willing to value it at $1 billion.
SOUNDCLOUD began offering an ad-free subscription service in MARCH.