The streaming platform claims “a strong outlook for 2017 and beyond.”

SoundCloud has responded to recent reports that the company is experiencing money-raising difficulties and is willing to sell up for the relatively small price of $250 million.

Issuing a statement to Billboard last night (March 13), the streaming platform refutes the accuracy of Recode’s initial article that claimed SoundCloud has been trying to raise $100 million since last summer.

“While we do not comment on rumors or speculation, we can say the latest Recode article doesn’t accurately portray the current state of the SoundCloud business,” reads the statement.

It continues: “We are actively speaking with a variety of potential investors and other strategic partners. These conversations, led by our recently appointed CFO Holly Lim, reflect the market interest in our differentiated platform, unmatched user reach and strong outlook for 2017 and beyond.”

“We expect to see 2.5x year-over-year revenue growth in 2017, driven in part by SoundCloud Go, our just-launched mid-priced consumer subscription.”

Yesterday, SoundCloud announced the expansion of its Premier program. Launched in 2014, Premier is an invite-only branch of SoundCloud’s service that allows artists to monetize their pages for ad revenue. This new expansion will allow users to get paid for their mixes and remixes.

Read next: Hands on with SoundCloud Go



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