Feeds

SoundCloud gets US$50m for sonic growth

Mary Meeker joins board

Protecting users from Firesheep and other Sidejacking attacks with SSL

Berlin based social media audio sharing site SoundCloud has raised up to as rumoured US$50 million in funding led by Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers.

The site, which is gaining ground in music production industry and artist circles, confirmed the closing of the funding round but would not specify the amount.

The company said that the investment will allow SoundCloud, which last year opened its Silicon Valley office, to continue to expand more rapidly.

SoundCloud’s service, launched in 2008, first targeted professional musicians who needed better options for sharing music online, and has since expanded to podcasts, audiobooks and other audio. The site not only features high end streaming apps for web and mobile but also discovery and recommendations engines that allow new artists to leverage the platform’s audience.

The site has around 2.3 million unique visitors per month and reported 5 million registered users in June, growing to 9 million by the end of the year.

“SoundCloud has seen exponential growth this year in terms of users and greatly evolved our product offerings. With Kleiner Perkins’ impeccable track record for recognizing and investing in companies with a long-term view, and their understanding and support for the potential of sound, we couldn’t be more excited about working together,” said founder & CEO, Alexander Ljung.

Online guru Mary Meeker, partner at Kleiner Perkins Caufield & Byers, will take a board observer seat at the company. ®

Prior to this deal, SoundCloud’s funding came from B-Round investors Union Square Ventures and Index Ventures, and A-Round investor Doughty Hanson Technology Ventures. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.