SoundCloud Is For Sale, But They’re Having Trouble Finding A Buyer
SoundCloud is finally starting to seriously monetize their content, but profitability is still just a distant hope. That sent the startup in search of funds; and in June, SoundCloud raised $70 million from Twitter in a $100 million funding round at reported valuation of $700 million. Now Soundcloud is for sale.
SoundCloud is quietly exploring a sale, according to sources familiar with the matter. They've brought aboard investment firm Doughty Hanson & Company to explore their options.
But SoundCloud is not getting much interest in large part because the founder are now valuing the company at $1 billion, two sources tell Bloomberg. SoundCloud and Doughty Hanson didn’t immediately respond to a request for comment.