Your Music Isn’t Going Anywhere & Neither Is Soundcloud
Last Wednesday, Soundcloud fans were worried when a story on Tech Crunch was published, stating that the site only had enough funding to last another 50 days.
Following the news, fans and musicians who utilize Soundcloud’s services stormed the internet with worry – and a few memes too.
Since the controversy erupted, Soundcloud officials have addressed the claims. View their statement below:
“There are a number of inaccuracies within the TechCrunch article. They seem to stem from a misinterpretation of information by one or two laid off employees during a recent all hands meeting. Due to the extensive number of inaccuracies, we will only comment regarding funding and layoffs. To clarify, SoundCloud is fully funded into the fourth quarter. We continue to be confident the changes made last week put us on our path to profitability and ensure SoundCloud’s long-term viability. In terms of layoffs, it is our policy not to discuss individual employee cases, but we can share we continue to work with all employees who were let go to support them during this transition, with employment and financial assistance.”
TechCrunch’s Josh Constine responded to Soundcloud, stating:
“SoundCloud has clumsily attempted to refute our TechCrunch article on its financial and morale problems by issuing a statement to Variety saying our post contains ‘extensive inaccuracies,’ yet its supposed ‘corrections’ simply repeat what we did publish, and refute something we didn’t publish. SoundCloud writes ‘SoundCloud is fully funded into the fourth quarter,’ which is the same quote we already included from its PR. SoundCloud writes ‘we continue to work with all employees who were let go to support them during this transition, with employment and financial assistance,’ but we never said it wouldn’t support these employees, merely that it uprooted people’s lives by hiring them and then laying them off weeks later. TechCrunch stands by its reporting.”
Following the statement, Soundcloud also made a tweet, stating “Spread the word: your music isn’t going anywhere. and neither are we.”