SoundCloud Posts €51m Loss for 2015
Directors say the company may soon 'run out of cash.'
The latest SoundCloud finance report has revealed a €51m loss for 2015.
The company’s revenues have actually risen 21.6% to €21.1m, but the losses have, too.
In the Director’s report, it was explained by co-founder Alexander Ljung that the company may need to raise additional funds if the new subscription service doesn’t succeed. “Whilst the directors believe that [SoundCloud] will have sufficient funds to continue to meet its liabilities through 31 December 2017,”Ljung writes, “the risks and uncertainties may cause the company to run out of cash earlier than that date, and would require [SoundCloud] to raise additional funds which are not currently planned.”
This news comes after it was revealed that Google is supposedly considering buying Soundcloud.