‘SoundCloud want the director replaced with round’
Investors of SoundCloud like the current director replaced as part of a new round.
That reports Recode Thursday on the basis of documents of investors who are holding in your hands.
The current ceo and founder Alex Ljung would be replaced by former Vimeo director, Kerry Trainor. Ljung would be part remain on the board of the company. Also would there be a new COO.
The service would this week, selling stock to two investors for the ailing company to save. The sale will have 170 million dollars (approximately 145 million euros) yield. The value of the company for the investment than 150 million dollar amounts. The investment would be used to be a part of the debts of SoundCloud to solve.
There is diving since march, rumors about money problems, on SoundCloud. In July, there were 173 people fired and two offices are closed.
According to Dan Primack of Axios has Ljung against the current investors said that if they do not agree with the investment proposal, “the company may not be able to continue to exist”. Previously said the managing director that the company has not yet were to go bankrupt.
The investments would Friday must be completed.