Google mulls SoundCloud acquisition – report - Mobile World Live

Google mulls SoundCloud acquisition – report

09 JAN 2017

Google is mulling an acquisition of Berlin-based music creation and promotion platform SoundCloud, Music Business WorldWide (MBW) reported, not long after Spotify decided against making a move.

SoundCloud reportedly wanted to sell for $1 billion, an amount that deterred not just Spotify but Twitter as well. It could now be acquired for around $500 million, the report said, adding that SoundCloud hired former Google executive Holly Lim as its first CFO in September last year.

The report also revealed that three major labels – Universal, Sony and Warner, own stakes in SoundCloud.

If SoundCloud was sold for $500 million, these firms would get a cut of around $45 million, MBW said.

Last month, Spotify said the costs and licensing agreements needed to acquire SoundCloud would “slow its path” towards its initial public offering, which is planned for 2017.


Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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