Soundcloud is the Soundcloud rapper of streaming services, if reports of its potential sale price are to be believed. While it hasn’t been confirmed, sources who spoke to Recode say the company is willing to sell for as little as $250 million.
That’s not exactly pocket change to you or me, but it’s a pittance in the world of tech company sales. To put that in perspective, Sprint paid nearly that price for just a third of Tidal. Tidal. The company whose market saturation is so low that I still have to explain that it’s a streaming service when I mention it in conversation. And Soundcloud thinks the entire company is worth about $50 million more than a third of that. The market for vaporwave remixes, Smash Mouth memes and poorly mixed loosies just ain’t what it used to be.
The company reportedly valued itself at nearly a billion dollars around the time of the launch of its subscription service Soundcloud Go. However, the revelation that the company suffered disastrous losses in 2015 has clearly taken its toll on their asking price. The same sources who gave the $250 million number to Recode claim that the company has been seeking $100 million in investments to stay functional, with no success. If Spotify is sniffing around, they could snap it up for almost nothing, relatively speaking.
Soundcloud themselves have yet to comment on the reports.
