SoundCloud rejects article which claims it's running out of cash

SoundCloud's desperate layoff maneuver only bought itself enough time until Q4

Last week, SoundCloud said it was firing 173 staffers and closing its London and San Francisco offices to focus on Berlin and NY.

While SoundCloud isn't dead yet, and maybe the 50 day prognosis was premature, it's clear there is major trouble ahead for the music streaming platform. And while co-founder and CEO Alex Ljung promised the cuts would ensure the company's "path to long-term, independent success", TechCrunch reported yesterday SoundCloud only has enough funds to make it "until Q4", which is now less than 50 days away.

When TechCrunch asked about the morale of the team, an anonymous employee of SoundCloud said, "It's pretty shitty".

For those of you looking to find new music to stay ahead of the game, you're just going to have to settle for the radio.

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Adding a splash of colour to the dressed-down ensemble, she rocked a monochrome inscribed red hoodie and coordinating rucksack. In the interview with The Sunday Times , Sophie spoke about her romance with musician Joe Jonas .

A spokeswoman the SoundCloud declined to comment on the TechCrunch article in depth. During an "all hands on deck" meeting as described in the report, employees supposedly scoffed at the founders referring to them as a family. "By reducing our costs and continuing our revenue growth, we're on our path to profitability and in control of Soundcloud's independent future", Ljung said. In a subsequent report forum TechCrunch, however, the situation is supposedly much more dire.

In response to the leaked information, representatives for SoundCloud told TechCrunch that the company is "fully funded into Q4", even while it courts offers from potential investors. In terms of layoffs, it is our policy not to discuss individual employee cases, but we can share we continue to work with all employees who were let go to support them during this transition, with employment and financial assistance.

But without a defined strategy, one of streaming music's giants could fall, leaving many creators without the same freedoms to upload content.

SoundCloud took issue with the claims and responded with its own statement, which it issued to Variety.

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