SoundCloud seems to be in dire straits lately, especially since Spotify refused the offer to acquire the internet-based music streaming platform. The company isn’t profitable and it appears to be on its last legs, but there are some rumors that Google has taken an interest in bringing the streaming music company under its wing.
SoundCloud has around 175m users worldwide, which is no paltry sum. It’s one of the largest platforms dedicated solely to discovering new and independently produced music from people around the globe. But SoundCloud has been adamant that it not sell itself for less than $1 billion, which is the bid that both Spotify and Twitter turned away from.
Could Google be looking to do for indie music what it did with YouTube? It would be interesting to see the service brought under Google’s umbrella of products, but despite the focus on indie music from around the globe, major record labels have huge stakes in SoundCloud, too.
Digging through the financial records of the company reveals that all three major record labels hold some stake in the company, with Universal at 4%, Sony at 3%, and Warner between 1-2%.