New investment saves music platform

Over the past weeks the future for the music app Soundcloud has been uncertain, but after a £135 million investment it seems the music platform has a bright future.

Soundcloud is popular with emerging music artists and it faced closure faced closure if the new funding was not approved by Friday.

Concerned users had been backing up their Soundcloud uploads, worried the site would go offline.

After the major investment, Alexander Ljung, the company’s chairman said that ‘Soundcloud is here to stay’.

Chance the Rapper who is one of the highest profiled users has also been very vocal in supporting Soundcloud.  

In September, acquisition talks with Spotify failed to materialise and although the company is to make some major cutbacks in the upcoming months it’s clear that Soundcloud is popular with the musical community and it’s ‘here to stay’.