Saved from the brink of extinction by a last-minute investment, SoundCloud has one more chance at becoming the go-to platform for indie musicians.
SoundCloud gave music fans quite a scare last month when it laid off nearly half of its staff – people thought the indie music platform was going to go belly up in a matter of weeks. Luckily, it got a new lease of life last week when it scored a $170 million investment that should help keep the lights on for a good while.
The deal also mandated that CEO Alexander Ljung would be replaced by Vimeo exec Kerry Trainor; Ljung will stay on as chairman of the board, and Trainor will be joined by Vimeo’s Michael Weissman in the COO position.
Hopefully, that’ll make for some healthy changes in the way SoundCloud operates. But beyond just reshuffling upper management, there are a few things the company can do to stay alive, now that it’s starting a new chapter with a leaner team.