SoundCloud CEO Says The Company 'Is Here To Stay'

Alex Ljung

Two week ago (NET NEWS 7/6), in a note posted on its blog, SOUNDCLOUD CEO ALEX LJUNG admitted that the music streamer will lay off 173 of its 420 employees, an over 40% reduction in staff. Furthermore, SOUNDCLOUD is closing its offices in SAN FRANCISCO and LONDON; only its NEW YORK and BERLIN offices remain open.  

"By reducing our costs and continuing our revenue growth, we’re on our path to profitability and in control of SOUNDCLOUD’s independent future," LJUNG wrote.

On FRIDAY (7/14), LJUNG addressed ongoing rumors that the company would shut down, writing to DIGITAL MUSIC NEWS:

"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 that we’re not going anywhere and keep doing what you’re doing – creating, listening, uploading, sharing, liking, and discovering what’s new, now and next in music.

SOUNDCLOUD is here to stay.

Peace,
ALEX"

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