Soundcloud

SoundCloud Accepts $170 Million Rescue, Taps New CEO

SoundCloud has taken $170 million in new funding and now have a new CEO, Billboard reports:

The struggling digital music service today secured a fresh round of funding that assures SoundCloud will remain independent, even as a new executive team takes over to steer the service into the future.

The Raine Group, a boutique merchant bank, joined with the Singapore-based investment company Temasek, in leading a $169.5 million investment round that infuses SoundCloud with much-needed cash.

Former Vimeo CEO Kerry Trainor succeeds founder Alex Ljung as chief executive, and Michael Weissman, another former executive at the video platform, was named SoundCloud’s chief operating office

Jason Tate
Jason Tate Jason Tate is the founder and editor-in-chief of chorus.fm. He can also be found at @jason_tate on Twitter and on Facebook.
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