Soundcloud looks to get an influx of cash.
Soundcloud, not long after it was rumored that they were not sitting on solid financial ground as a company, could be seeing some investor money coming their way soon.
According to Billboard, the streaming giant has The Raine Group circling as a potential stakeholder. The boutique merchant bank also has a stake in entities like Vice Media, Imagine Entertainment and video news network Cheddar, just to name a few. They have allegedly been in talks with SoundCloud for a little while, but sources say that no firm agreement has been reached. Raine could provide the business acumen and insight that the online music service needs to achieve profitability donw the road.
Don’t forget: Soundcloud had also laid off 40% of their workforce not that long ago.