The vultures have been circling for SoundCloud over the past week with massive layoffs and reports that they only have cash for the next 50 days. However, after the company refuted that report, saying they had enough cash through the end of the year, today seems to be a better day. Chance The Rapper has taken the initiative and made some calls and he has proclaimed the service “here to stay.”
In a series of Tweets, he says he had a fruitful call with Alex Ljung, one of the co-founders of SoundCloud and the service is purportedly here to stay. Whether that means he is ready to invest, or something else – only time will tell. It is hard to imagine that the service could have a huge turn of fortune this quickly. Maybe Chance has a plan with a few other business partners that could inject needed cash and direction that could save and then revive the music service, which is important to the digital music ecosystem.