Director SoundCloud, get on as part of new investment round
SoundCloud has reached agreement for a new investment of two companies. The resignation of director Alex Ljung is part of that agreement.
That has SoundCloud Friday announced in a statement. Ljung continues to be a board member. Kerry Trainor, former CEO of Vimeo, will be the new director. Mike Weissman is the new COO of the company.
The investment comes from Raine Group and Temasek. How much money exactly is retrieved has SoundCloud not made known. According to rumors, is going to 169,5 million (143.4 million euros).
Since march diving there are rumours about money problems on SoundCloud. Last month the company sold forty percent of its shares and dismissed the 173 employees. Ljung would Thursday have said that “the company may not be able to continue to exist” if the new investment would not go through.