The streaming service is said to be eyeing its next big move.
According to sources, the company’s founders and investors are exploring the possibility of a sale, but two people have said that SoundCloud has struggled to find a buyer willing to value the company at such a high amount.
SoundCloud has reportedly been considering a sale for some time, but the deliberations are said to be at an early stage and the company may yet decide against selling.
Rumours about a possible sale for the company have been circulating for several years. In 2014 it was reported that Twitter was interested in buying the streaming service, but last year chose to invest $70 million in the platform instead.
The company has been heavily reliant on outside investment to stay afloat. Financial figures from 2014 made for uneasy reading, and despite launching a paid subscription service and settling its differences with each of the major labels, the company is yet to turn a profit.