What was thought to be a company on the decline has now turned into a company with a whole bunch of money. According to MBW (Music Business Worldwide), Soundcloud is about to be saved by a pair of very generous investment funds.
The Raine Group and Singapore state investment company, Tamasek Holdings, will each acquire stakes in the business. Those combined stakes from the two big companies will jointly amount to more than 50% of Soundclouds equity. The two investments from both Raine Group and Tamasek Holdings will total to about $300 million.
Although this is good news, the deal hasn't gone through its completion yet. There are still things that need to be addressed as far as that goes but all I know is that I hope Soundcloud can lock this deal down and get back or at least close to where they were.
All of us in the music industry, and those especially involved in EDM, wish Soundcloud the best and hope that they can continue to help independent artists for many years to come. Though they might not have as big of a hold on the industry as some of the other steaming services cough cough..Spotify..Soundcloud still means a lot to any independent artist trying to make it in the crazy and somewhat complicated music world today.