Last week, Soundcloud announced that it would lay off 40 percent of its staff in order to not completely go under after repeated attempts to keep the company afloat. The news was greeted with unsurprised sighs, but as a new report by TechCrunch reveals, the situation at the company's HQs may be more dire than previously thought.
The story allegedly uses leaked info from an "all-hands" global conference meeting that took place in Soundcloud's main offices at New York and Berlin and paints a hopeless picture for the company. Apparently, founders Alex Ljung and Eric Wahlforss told employees that the layoffs merely created enough overhead to keep operations moving comfortably until the beginning of Q4, after which there would be no more expendable finances. Soundcloud's PR is said to have told TechCrunch that the company is "fully funded" during the 50-day lead up to Q4. So, to clarify, the site probably won't be totally inactive after 50 days but it and the company will just be in an incredibly unstable state (the story mentions that the company is reportedly looking at potential investors to inject Soundcloud with the infusion of cash it needs to keep trucking).
Employees who were present at the conference also described it to TechCrunch as a "shitshow" and said the morale among what's left of the staff is "really low," with a few having apparently already quit their jobs. Naturally, the community of producers and DJs and musicians who rely on Soundcloud are both panicking and urging others to take their music off the site in case it doesgo inactive.
Well this sucks. Soundcloud has given undiscovered artists, such as Lil Yatchy a platform to get their music to the masses since 2007, and is one of the 110 most popular websites in the world, yet it appears the streaming site may be dead in less than two months.
I'm too stupid from a business sense to understand how this even works but I don't understand it. How can such an important website for music be on the brink of collapse? Throw some fucking ads on your site or something bro? Idk, learn how to generate revenue one time for me (I don't know how to). I really only use it to listen to Hedge or my (failed) podcasts, so I don't know much about soundcloud, but hopefully something to can be done to keep the site going so that millions (guessing they have that many) can keep the dream alive.
Be sure to listen to my boy Hedge before Soundcloud is no more. We got 50 days Hedge to make this happen!