Exciting news and the future of SoundCloud

Soundcloud CEO To Be Replaced By Vimeo CEO Following $170 Million Investment to Keep Company Afloat
SoundCloud saved for the time being with new investment, new CEO and COO appointed
Author

13 August, 2017

With this new round of financing and a shake up at the top, it will be interesting to see how SoundCloud will reinvigorate itself and keep things in the green.

Ljung, who had previously held the title of CEO, will remain at the company as Chairman. Now, it has been revealed that their CEO Alex Ljung will be replaced by Kerry Trainor, former CEO of Vimeo.

"That's a great business", said Trainor, a former executive at Yahoo! The Pro service, which costs $7 a month, provides basic stats such as play counts and likes, see plays by country, turn on or off public comments and upload up to six hours of audio.

SoundCloud was launched in 2008 and has never said how many paying subscribers it has, but launched a budget subscription package for hoping that will have more listeners to convert from its free service, which that also did not do well.

As BBC reports, the company was at risk of shutting down entirely should new funding not have been approved by its shareholders, in the wake of a string of hits to its operations, including the recent downsizing of its workforce by 40%, or 173 jobs, last month. We can't have that, and I'm happy to once again say that won't be happening.

SoundCloud last reported some 170 million users. Inc. and AOL, who said the company is on track to have $100 million in revenue in 2017.

"I look forward to fully dedicating my time to leading the board and helping drive SoundCloud's long term strategic vision, and forging strategic partnerships and connections with industry partners and our one-of-a-kind creative community", said Ljung in a statement this afternoon. I'm very excited to join this talented team and build the next chapter of growth around SoundCloud's mission to empower audio creators.


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