Streaming company SoundCloud has refused to rule out rumours that a $1b sale is on the cards, as the German firm continues to weigh up its options on how best to grow the business.
Earlier this week, Bloomberg reported that SoundCloud founders and investors were considering selling the company, which it values at around $1bn. Although sources claim that it has struggled to find a buyer at that price.
Last month, SoundCloud raised funds of $70m from Twitter as part of a $100m funding round, which valued the firm at around $700m Bloomberg sources said.
SoundCloud has so far refused to speak publicly on the speculation and declined to comment when approached by Music Week.
The platform, which currently has around 175 million users, launched a premium service earlier this year, which offers an ad-free streaming service and wider access to songs for $10 (US) / £9.99 (UK) per month.
