News 15 July 2017
Author: Trudy Barry

Did Chance The Rapper just save SoundCloud?

Author Trudy Barry
15 July 2017

It was reported earlier in the week that Soundcloud’s funding was running out. In fact it was believed that the streaming service only had enough money to continuing running for another 50 days.

In a brutal move, the music tech company laid of 40% off its staff last week, however that still did not free up enough cash to get them past the summer. The company is in a considerable amount of debt and despite a Twitter campaign, which raised $70 million dollars in the summer of 2016, the company still looked doomed.

However independent artist extraordinaire Chance the Rapper may have just saved the day. In a cryptic tweet posted yesterday Chan Chan wrote than he had had a “fruitful” conversation with the company’s co founder and CEO Alex Ljung and that Soundcloud was “here to stay”. 

No word exactly what his involvement will be, but as an artist who rose to fame using the streaming service, and to this day continues to provide his music free of charge without a label – it’s evident that Soundcloud would be close to Chance’s heart.

Only time will tell what’s in store for the company now, and how much involvement Chance the Rapper will have…

In other Soundcloud news, London radio station Rinse FM has lost its extensive archive on the site. Many believe this is down to the copyrighted material on the page. While Soundcloud do allow copyrighted material, it can be removed upon the creator’s request.

In a tweet confirming the deletion, the station seemed fairly accepting of their fate.