SoundCloud is looking to sell for $1 billion according to a report by Bloomberg.
The company’s founders are reportedly currently in the process of looking for a buyer for the company but are apparently struggling to find somebody that would value the music platform so highly. The decision to sell is not final however and the company’s owners may yet decide to keep the streaming service.
SoundCloud has struggled over the last couple of years to find streams of revenue having attempted to introduce various paid formats to the service to it provides and encourage users to sign up to such formats. Some ways in which the company has founded revenue streams include a paid, ad-free service, the sale of equity to major labels and investment from other companies such as Twitter.
