Feeds

SoundCloud gets US$50m for sonic growth

Mary Meeker joins board

Boost IT visibility and business value

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. ®

Build a business case: developing custom apps

More from The Register

next story
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.