Soundcloud has released a statement refuting yesterday’s report that it’s willing to sell up for a knockdown price of just £250m.
Recode reported that the streaming service is struggling to secure yet more funding and would be willing to listen offers around £250m, some £500m less than it values itself at.
“While we do not comment on rumors or speculation, we can say the latest Recode article doesn’t accurately portray the current state of the SoundCloud business,” the statement reads.
“We are actively speaking with a variety of potential investors and other strategic partners. These conversations, led by our recently appointed CFO Holly Lim, reflect the market interest in our differentiated platform, unmatched user reach and strong outlook for 2017 and beyond.
“We expect to see 2.5x year-over-year revenue growth in 2017, driven in part by SoundCloud Go, our just-launched mid-priced consumer subscription.”
Yesterday, the company also announced that it would be expanding its revenue-sharing program to even more creators having soft launched the service in 2014.
The new Premier Program allows select users to monetise their content, and whilst it’s a welcome addition it still remains an invite-only program for now.