Application Software | Berlin, Germany | Late Stage
Music streaming company SoundCloud has raised a round of financing that will help pay off its debt. Temasek and The Raine Group have participated in the funding, which SoundCloud says is its largest ever; reports pegged the amount at $169.5 million. Founder Alexander Ljung has also announced that former Vimeo chief Kerry Trainor is replacing him as CEO. Ljung will remain chairman of the SoundCloud board.