Deals
Soundcloud Is Near Deal to Sell Stakes to Private Equity
- Two firms are said near to acquiring a majority of company
- Darling of independent music scene has struggled to make money
The SoundCloud Ltd. application.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
SoundCloud Ltd. is close to a deal to sell stakes in the company to a pair of private equity firms, according to people familiar with the matter, an investment that will help the beleaguered music-streaming service keep operating for the foreseeable future.
The two firms would be acquiring stakes via separate deals, said the people, who asked not to be identified discussing private transactions. The names of the interested parties or the sizes of the transactions couldn’t immediately be obtained.