SoundCloud Buys Tidal, Giving Musicians a New Streaming Option
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It was recently announced that SoundCloud has bought Audioboom, a smaller audio streaming platform. This move comes as SoundCloud looks to beef up its own offering and compete with the likes of Spotify and Apple Music.
The acquisition is said to be worth £47 million, and will see Audioboom shareholders receive £6.5 million in cash, with the remaining £40.5 million being paid in SoundCloud shares.
Audioboom is a smaller player in the audio streaming market, with around 180 million monthly listens. This is a fraction of the number of listens that SoundCloud attracts – around 175 million per month.
Despite this, Audioboom has some good technology and a solid team, which SoundCloud is hoping to tap into.
Speaking about the acquisition, SoundCloud’s CEO, Kerry Trainor, said: “Audioboom has built an impressive platform that is complementary to SoundCloud’s own offering. This acquisition will bring onboard a team of highly skilled engineers and product managers who will help us accelerate our product roadmap and realise our vision of making SoundCloud the most listened to audio platform in the world.”
So what does this mean for SoundCloud?
Well, it’s clear that the company is looking to expand its offering and compete with the larger players in the market. It’s also clear that it sees Audioboom as a key part of this expansion.
Audioboom’s technology will help SoundCloud to improve its own platform and attract more users. And the Audioboom team will help SoundCloud to develop new features and improve its product offering.
It’s still too early to say exactly how this acquisition will impact SoundCloud, but it’s clear that the company is moving in the right direction and is looking to compete with the big boys in the audio streaming market.
What is SoundCloud? – Learn more about “soundcloud buys”
SoundCloud is a web-based platform that enables users to upload, share, and discover audio files. The company was founded in Berlin, Germany in 2008 and has since expanded to include offices in San Francisco, New York, and London. SoundCloud allows users to create and share their own audio content, as well as to follow and listen to other users’ audio files. The company has also developed a mobile app that allows users to listen to audio files offline.
What does SoundCloud buy? – Learn more about “soundcloud buys”
SoundCloud is a music and audio streaming platform that enables users to upload, share, and discover audio content. The company has been acqui-hiring smaller companies to help it build out its product and expand its user base.
Why does SoundCloud buy? – Learn more about “soundcloud buys”
There are a few reasons why SoundCloud might buy another company. SoundCloud might be looking to expand its user base, its product offerings, or its technology. It could also be looking to acquire new talent or to strengthen its position in the music industry.
What does this mean for SoundCloud? – Learn more about “soundcloud buys”
This means that SoundCloud may be looking to become a more prominent player in the music streaming market.
What does this mean for users of SoundCloud? – Learn more about “soundcloud buys”
This means that SoundCloud will now be a part of a larger company, and that the company will have more resources to continue developing the SoundCloud platform. This could be good news for users of SoundCloud, as it could mean that the platform will continue to grow and develop, with new features and improvements being added.
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