(HYPEBOT) – SoundCloud is preparing for a sale this year, and owners Raine Group and Temasek Holdings anticipate a major payday.
Investment bankers are being reviewed to handle the SoundCloud sale,, which could top $1 billion, according to a Sky News report on Sunday.
Founded in 2007, SoundCloud reportedly became a profitable company in 2023 after years of struggles, including as a failed direct competitor to Spotify.
More than 40 million artists have posted 320 million tracks on SoundCloud, the most extensive catalog of all music streamers. SoundCloud has not shared user stats since 2021 but has an estimated 76 million registered users and over 175 million monthly listeners.
Recent SoundCloud Statistics
Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, President of the Skyline Artists Agency, and a Berklee College Of Music professor.
