SoundCloud Is Reportedly Considering Selling Their Company For $1 Billion

Online streaming giant SoundCloud has been in financial trouble for some time now, and it seems the company’s founders are considering drastic steps to maintain their product. According to a news item in Bloomberg, the owners of the German-based company are mulling over the option of selling their company for a steep $1 billion sum.

Though Bloomberg’s sources wished to remain private during any potential negotiations, SoundCloud is indeed “exploring strategic options” for the business. While they may ultimately opt not to sell, it appears as though serious measures will need to be taken in order to make SoundCloud profitable. The streaming site found a niche as a place for anyone to share and discover music, such as their recently-introduced premium service with fewer ads and increased access. There are also premium accounts for artists, based on storage space and additional features.

If SoundCloud is priced at $1 Billion, we can only hope that any corporate entity looking to take over the site doesn’t change it for the worse.