A spokesperson from Soundcloud has refuted reports that the company is only 50 days away from running out of money, citing the report had "a number of inaccuracies".
"To clarify, SoundCloud is fully funded into the fourth quarter," the spokesperson said. "We continue to be confident the changes made last week put us on our path to profitability and ensure SoundCloud's long-term viability."
"In terms of layoffs, it is our policy not to discuss individual employee cases," SoundCloud added, "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."
In another twist in the story, Chance The Rapper is said to have spoken to Soundcloud found Alex Ljung today and is confident the music streaming service is, "here to stay".
With Soundcloud then annoucing via Twitter that, "your music isn’t going anywhere. Neither are we." And then Ljung himself addressed the "noise" in a blog post this evening, saying it's just that: "noise".
Just had a very fruitful call with Alex Ljung. @SoundCloud is here to stay.— Lil Chano From 79th (@chancetherapper) July 14, 2017
*airhorn* Spread the word: your music isn’t going anywhere. Neither are we.— SoundCloud (@SoundCloud) July 14, 2017
Copyright Thrust Publishing Ltd. Permission to use quotations from this article is granted subject to appropriate credit being given to www.djmag.com as the source.