The 24-year-old songwriter, who started his career by releasing music on SoundCloud, was shocked when earlier this week (beg10Jul17) it was leaked that the company had to let go of nearly half of its staff and only had enough funding to keep afloat until the end of the year. But an announcement by the CEO and tweets from a musician who made their start on SoundCloud suggest a different story.
While SoundCloud's CEO Alexnder Ljung recently rejected the rumours that the music streaming service was running out of cash, rumours of the company's demise following massive layoffs have persisted. "Not in 50 days, not in 80 days or anytime in the foreseeable future". "Your music is safe", he wrote. This followed his previous statement where he discussed laying off 173 staff and consolidating the remaining staff into two offices in Berlin and NY.
Taking to his Twitter account, Chance The Rapper sent out a rather cryptic message in which all he said was "I'm working on the SoundCloud thing", before he sent another message which was seemingly directed at potential unsigned artists of the future.
Earlier this week the company laid off around 40% of its staff and closed offices in London and San Francisco. The music you love on SoundCloud isn't going away, the music you shared or uploaded isn't going away, because SoundCloud is not going away.