According to the terms of the agreement, SiriusXM purchased the investment amount in securities and will now have a minority stake in the Berlin-based company along with two seats on SoundCloud’s expanded board of directors.handling U.S. advertising sales
Formerly on the brink of Chapter 11, SoundCloud has achieved stability in recent years thanks to three main sources of revenue: creator products/services, consumer subscriptions and advertising. It also benefitted from a $169.5 million round of funding in 2017 from Raine Group and Singapore-based investment company Temasek.
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