SoundCloud to shut down within 2 months
Alex Ljun, co-founder of SoundCloud has made announcement that company is going to lay off 40% of its staff.
SoundCloud is the well known music streaming platform on which you can listen to millions of songs from around the globe and can upload your own music.
Company has also shut down its offices in London and San Francisco. However their main offices at NewYork and Berlin are open yet.
The following year was not good enough for the company. According to the statement released by the co-founder of SoundCloud, they might not have enough money to sustain their company.
According to reports, company might not have enough money to even continue during the summers. Alex claimed that SoundCloud is going through tough times. Further telling the cause behind the shutdown of their offices in London and San Francisco, Alex told that this step might help company to take over control.
Earlier a video became viral in which the owners of company were briefing the employees that they only have enough funding to sustain company till the Q4 of 2017.
According to experts, company never managed to know that how to earn through its users.
However time will reveal for how long they could sustain their business.