Popular music platform SoundCloud is reportedly up for sale to the highest bidder with an absolutely massive valuation of $1,000,000,000.
Launched in 2008, SoundCloud quickly became one of the biggest music platforms on the internet with some of the biggest names gaining notoriety from the platform.
From Chance the Rapper and Travis Scott to Juice Wrld and XXXTentacion, there have been hundreds of popular artists that started on the site.
On January 7, 2024, Sky News reported that the owners of SoundCloud are preparing for a sale that could earn “in excess of $1BN.”
SoundCloud reportedly up for sale with massive valuation
According to the report, owners Raine Group and Temasek Holdings, have begun interviewing investment banks about a prospective auction of the company.
Sky News says that CEO Eliah Seton has significantly helped the company grow since joining in 2023 and is a major factor for their interest in selling.
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It could be months until we see the sale begin, however, assuming it actually takes place.
According to the report, SoundCloud has had 320 million tracks uploaded by over 40 million artists.
If sold, it would be the second long-standing music website to have been sold in the last few years. Back in March 2022, Epic Games purchased Bandcamp.
In September 2023, however, the game company sold Bandcamp to song marketing company Songtradr amid layoffs at Epic.
We’ll be sure to update you if the sale does happen, but in the meantime, keep it locked to Dexerto for more news and other viral stories.