Soundcloud is looking to start making money. The Berlin-based online music streaming giant has grown its user base to 350 million since launching in 2007. Up till now, the company has lost up to $29.6 million. Soundcloud currently pays no publishing royalties because they are not making money from advertising like Youtube is. For this reason, they have managed to avoid any legal problems with organizations like NMPA. However, David Israelite of the NMPA has recently said that they may still sue, but are looking for a win win situation. In an effort, to launch their ad-supported streaming smoothly, Soundcloud has hired fore Warner Music executive Stephen Byran as VP of business development.