Along with this capital, investors will replace CEO of SoundCloud from 2007, Mr. Ljung with former Vimeo CEO, Mr. Kerry Trainor. Former Vimeo manager, Mr. Mike Weissman will also become COO of SoundCloud.
In July, after laying off many employees and closing offices, there were rumors about financial problems of SoundCloud, that the company could only operate until the fourth quarter of this year. Fortunately, thanks to this successful capital call, we can continue to share and listen to music on the SoundCloud music store.