SoundCloud Needs More Money, or It May Sell at a Fire-Sale Price

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Peter Kafka, writing at Recode:

Sources say the streaming music service has been trying to raise more than $100 million since last summer, without success. It has also talked to potential acquirers, including Spotify, without closing a deal.

The upshot, according to people familiar with the company: SoundCloud is now at a point where it may sell for less than the $700 million investors thought it was worth a few years ago. One source thinks it will consider bids, as long as they’re above the total investment it has raised to date — about $250 million.
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