The company also reportedly only has enough cash to last until the fourth quarter. In a blog post posted to the company’s website, CEO Alex Ljung tried to reassure users and musicians alike that the “music you love on SoundCloud isn’t going away, the music you shared or uploaded isn’t going away, because SoundCloud is not going away”. “Not in 50 days, not in 80 days or anytime in the foreseeable future”. Your music is safe.
“However, Chicago artist Chance the Rapper tweeted that the struggling startup was here to stay” after a “very fruitful call” with chief executive and co-founder, Alex Ljung. Producer group J.U.S.T.I.C.E League took to Twitter to reiterate some previous claims that Chance doesn’t pay producers and question just how altruistic Chano’s charitable efforts have been.
Chance the Rapper and Young Thug has joined teams to help and save SoundCloud by releasing an exclusive song on their platform. The music you love on SoundCloud isn’t going away, the music you shared or uploaded isn’t going away, because SoundCloud is not going away.
The track dropped on Soundcloud over the weekend, with the art for the track featuring a text convo between the two, signed off by “Chance + Jeff”.
Chance, whose career began thanks to SoundCloud, recently Tweeted out a message which seemed to indicate that he has had contact with SoundCloud’s CEO, and tried to organise a resolution to the company’s apparent crisis.