By Chox-Mak
Hip-HopVibe.com Staff Writer
Last night, rumors surfaced about SoundCloud being in financial trouble. After five years, SoundCloud has become a haven for artists to upload their music. Because of this, SoundCloud also has become a mainstay for many music blogs to use.
Over the years, many other music sharing platforms have emerged, but they have never been able to outlast SoundCloud. Ironically, they found their biggest competition from signup only subscription music streaming sites. That promoted the creation of SoundCloud Go.
Yesterday, rumors surfaced that SoundCloud was laying off over 40% of their staff, as they only had enough funds to last 50 more days. The executives of the company emerged to shut those rumors down. Turns out, the layoff has more to do with expansion than the company being in trouble.
Source: The Shade Room
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