Soundcloud To Join $1 Billion Startup Club With New Funding Round
Music and audio sharing platform Soundloud is in talks to add $150 million in funding at a $1.2 billion valuation. The new round would more than double the $123 million the company has received to date, and place SoundCloud in the rare group of tech startups – particularly in music – that are valued at more than $1 billion.
SoundCloud is in the midst of negotiating licensing agreements with the major label groups, some have whom have been publicly skeptical of the company's monetization plans. A deal with Warner Music Group has been signed, reportedly in exchange for an ownership stake