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
Launched in 2008, SoundCloud reported that it had 40 million registered users and 200 million listeners as of July 2013. Content creators upload 12 hours of new audio every minute
So they still have no plans for effective monitization that would benefit indies? Ad share? Performance or mechanical royalty? Neighboring rights royalty? Anything??