Remember when plenty of people thought SoundCloud’s days were numbered? Earlier in the year news making the rounds told a story of a company struggling to make revenue, not moving forward technologically and in dire need of cash flow.
Things are now taking a turn for the best however, perhaps explaining why Spotify has been rumored to be in advance talks to acquire its current music streaming rival. According to financial data analyzed by Digital Music News, SoundCloud has managed to bolster revenue up by 43% in the past year to a total nearing $28 million.
Most likely driven by advertising revenue, the increase points to much needed positive change for the company, especially after reported losses of $43.9 million in 2014. The information comes courtesy of company financial intelligence purveyor PrivCo,
H/T: Digital Music News