SoundCloud closes $169.5M Series F funding round led by Raine Group and Temasek to stay afloat; former Vimeo CEO Kerry Trainor replaces Alex Ljung as CEO
LOS ANGELES — SoundCloud has gotten … Adam Rowe / TechCo : SoundCloud Closed the Funding It Needs to Stay Alive Timothy B. Lee / Ars Technica : Investors rescue embattled SoundCloud with $170 million lifeline Shawn Knight / TechSpot : 11th hour investment staves off SoundCloud shutdown Andrew Flanagan / NPR : SoundCloud Saved By The Bell Of A Big Chunk Of Financing Brian Fagioli / BetaNews : SoundCloud lives! — While streaming services such as Apple Music … Chris Davies / SlashGear : SoundCloud saved: Investors step in to rescue music site Anna Washenko / RAIN News : SoundCloud saved by new investor deal; new CEO and COO; founder steps down Kerry Flynn / Mashable : Someone call Chance the Rapper—SoundCloud is saved! Ben Dandridge-Lemco / The FADER : SoundCloud Safe For Now After $170 Million Rescue Investment Fred Wilson / AVC : SoundCloud … I have spent much of the last four months working … Nelson Wang / TheStreet : SoundCloud Gets Emergency Funding So it Could Keep Losing to Apple and Spotify deutsche-startups.de : Deal-Monitor - Gerettet! SoundCloud bekommt 170 Millionen David Lieberman / Deadline : SoundCloud Saved By Cash Infusion; Kerry Trainor Becomes CEO Fortune : The Sun Might Be Setting On SoundCloud Brian Feldman / New York Magazine : SoundCloud Saved at the Last Minute by New Funding Round Eric Auchard / Reuters : Cash-strapped SoundCloud receives new funding; CEO to step aside Seung Lee / SiliconBeat : SoundCloud lives with last-minute investment deal but CEO steps aside Tweets: Anand Sanwal / @asanwal : I suspect it's just not knowing any better. Hired gun CEO in a company that is owned by its financiers. Sounds fun. Dan Primack / @danprimack : 2/ All Series A-D shareholders converted to common. Series E gets 50% preference of invested capital. Series F gets 5% liq pref. Brian McCullough / @brianmcc : Aaannddd... @RMac18 called it 2 weeks ago. Ljung kicked upstairs to chairman. http://www.techmeme.com/... Fred Wilson / @fredwilson : Internet treasures don't die so easily and @SoundCloud is one of the most treasured parts of the Internet https://twitter.com/... Peter Kafka / @pkafka : Hey where did i read this before? http://www.recode.net/... http://twitter.com/... Peter Kafka / @pkafka : And, also: New SoundCloud COO Mike Weissman is USV partner Andy Weissman's brother. http://twitter.com/... Peter Kafka / @pkafka : Union Square Ventures still betting on SoundCloud. USV putting in fresh equity, USV's @fredwilson stays on SoundCloud BOD. http://twitter.com/... See also Mediagazer