Spotify walks away from SoundCloud talks
December 09, 2016
While a combination of the two companies seemed to make sense, it’s unsurprising to see Spotify prioritize its much-anticipated public offering. In addition to licensing headaches, it’s long been reported that SoundCloud hasn't been the most financially sound enterprise—company documents showed an operating loss of €39 million in 2014. And although revenue is said to be on an aggressive growth curve since launching a subscription tier earlier this year, the last thing Spotify needs while prepping to go public is uncertainty about its bottom line.
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