SoundCloud may run out of cash this year as it posts a €51 million loss

Jan 6, 2017 · businessinsider.com

Soundcloud ceo alexander ljung 4

SoundCloud's losses grew faster than its revenues in 2015 – with the company now admitting that, should its subscription service flop, its funding may run dry this year.

According to a new filing at Companies House (UK), SoundCloud Ltd's revenues grew 21.6% to €21.1 million ($22 million, £18 million) in 2015 – but its net losses accelerated 30.9% to €51.22 million ($52 million, £42 million).

Despite these worries, it's still a lucrative place to work.

SoundCloud's headcount grew by 25% in 2015, up from 236 to 295 people. It spent €26.77 million ($28 million, £23 million) on wages and salaries in the year – up 49% year-on-year.

Read Complete Article

Looking for a new gig? Only a few days left to grab your FREE ticket to @Jobbio #HIGHER17 on 28 Sept!… https://t.co/g1417erfyG

Great to welcome @BBCCountryfile & One Man and his Dog to London for the first time. Well done to the handlers & co… https://t.co/R2GISPzgT2

News UK launches #startup accelerator based at @unrulyco offices #LTW https://t.co/jLDc7P9Q2L https://t.co/matfh4vl9Y

What Do You Do When Someone “Steals” Your Amazing Idea? https://t.co/lR9ElvjaKu #startups

Looking for a great #workspace for your #startup? A few flex & resident memberships currently available! Apply here… https://t.co/hK51kHCydO

Tech.London Weekly

×