SoundCloud is a sinking ship

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Following the announcement last week that SoundCloud was cutting 40% of its staff, TechCrunch reported that the company has enough money to run for another “80 days”.

The report stated that SoundCloud told employees the savings from the job cuts were only enough to keep the company going “until Q4”.

Company founders Alex Ljung and Eric Wahlforss reportedly told staff about the projections in an “all-hands video conference broadcast”.

SoundCloud officially stated it is “fully funded into Q4” and is in talks with potential investors.

Now read: Startup which rents desk space gets $20-billion valuation

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SoundCloud is a sinking ship

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