SoundCloud could soon be getting purchased by Spotify
The world of streaming music services is more crowded than ever before. Gone are the days of having too many CDs taking up space in your room, as we're now living in a world where our phones are filled with one too many apps for streaming our favorite tunes. This is a field that's gotten tremendously competitive over the past couple years, and because of all this competition, we've seen some big names run into a bit of trouble. One of the most recent companies that we've seen come to a falter is Rdio. The company launched back in August of 2010, but was forced to file for Chapter 11 bankruptcy back in November of 2015. Many companies have made the move to offer paid versions of their service in an attempt to combat money issues and such, and we saw SoundCloud make this move with SoundCloud Go earlier in March of this year. Unfortunately, the service hasn't picked up nearly as much steam as the company was hoping.
new report from the Financial Times, it would appear that those rumors have a lot more weight to them than we initially thought. The outlet is reporting that Spotify is in "advanced talks" to purchase SoundCloud in the near future.Rumors have been flying around since July that SoundCloud was looking around for a potential buyer, but those were simply nothing more than that - rumors. They were simple murmurings in the tech world and nothing else. However, thanks to a
When word first broke that SoundCloud was looking for a possible buyer, we were seeing figures that were as much as $1 billion for the company. As popular as SoundCloud still is, that's a tremendous amount of cash to spend for a service that's quickly being overtaken by companies like Spotify, Apple Music, Google Play Music, etc. The company does have an edge for allowing virtually anyone to create and upload their tracks to the service, but considering the arguable failure of SoundCloud Go, we wouldn't be surprised if the sale price wasn't quite as high if and when the sale actually does take place.
We wouldn't be surprised if the sale price wasn't quite as high if and when the sale actually does take place.
SoundCloud has yet to make any comment on this matter, but we wouldn't be surprised at all to see a sale take place sooner rather than later. If it does happen to be purchased by Spotify, we aren't entirely sure how Spotify would handle the company. Would we see an integration between the two services? Or would Spotify simply provide SoundCloud with the finances they need to continue operating the way they are now? There's still a lot that's unknown, but we'll be sure to keep you updated on any progress that takes place with this story.