Well, it was a good idea while it lasted. It looks like greed and poor management just killed a company that a lot of DJs found themselves relying on to get their music out to the masses. Too bad.
The fact that SoundCloud has been in financial trouble isn’t anything new. Despite trying to merge with Spotify and introducing changes that the company hoped would encourage more subscribers, it looks like the end is near.
SoundCloud has just laid off nearly 200 employees and closed their offices in San Francisco and London. Those in Berlin and New York will remain open … for now. At last check the company had 175 million users. Yet, it’s been plagued by overspending on things like expensive perks, lavish offices, and huge bonuses.
Do you think an angel investor will save SoundCloud from total destruction? Does it deserve to be saved?