Chance The Rapper Is Working On A Way To Save SoundCloud

UPDATE: Looks like Chance has saved SoundCloud after all. Although he remains vague, on Friday afternoon he tweeted "Just had a very fruitful call with Alex Ljung. SoundCloud is here to stay."

Sometime after Chance's tweet, SoundCloud posted the following on their Twitter: "*airhorn* Spread the word: your music isn't going anywhere. Neither are we." So, looks like SoundCloud will remain on the Internet.

Read the original story below.

Chance The Rapper got his start through SoundCloud. Now he's trying to save the music streaming site.

It's been over four years since Chance The Rapper released his mixtape Acid Rap, the project that propelled him to success and foreshadowed his potential as a mainstream artist. Acid Rap was released on SoundCloud and even though he's gone on to release his music on other music streaming subscription services, he continues to use SoundCloud too (so does his brother, Taylor Bennett). So, it isn't surprising that Chance seems to want to help SoundCloud with its financial woes.

This week came a report from TechCrunch stating that SoundCloud only had enough money to survive until the fourth quarter of this year, which begins in 50 days, as well as over 170 employees were laid off and two of its offices were permanently closed.

On Thursday Chance posted a vague tweet that read "I'm working on the SoundCloud thing." It's unknown what the artist plans to do to help SoundCloud out but maybe the company won't need that much help. Following the release of TechCrunch's report, a representative for SoundCloud issued a statement saying there were an "extensive number of inaccuracies" in the article.

"There are a number of inaccuracies within the TechCrunch article. They seem to stem from a misinterpretation of information by one or two laid off employees during a recent all hands meeting. Due to the extensive number of inaccuracies, we will only comment regarding funding and layoffs. To clarify, SoundCloud is fully funded into the fourth quarter," the rep said. "We continue to be confident the changes made last week put us on our path to profitability and ensure SoundCloud's long-term viability. In terms of layoffs, it is our policy not to discuss individual employee cases, but we can share we continue to work with all employees who were let go to support them during this transition, with employment and financial assistance."

Source: techcrunch.com