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Soundcloud refutes reports it will run out of money in 50 days

Says it's "confident" about profitability...

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."

SoundCloud's financial woes were back in the spotlight last week when the company announced the sudden layoffs of 40% of its staff and closed several of its offices.

"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".

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