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SoundCloud Gets $75 Million Investment From Sirius

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The new investment amounts to a vote of confidence in SoundCloud, which was on shaky ground less than three years ago

SoundCloud Ltd. will take a $75 million shot in the arm from satellite-radio giant Sirius XM Holdings Inc. in exchange for a minority stake and two board seats at the audio-sharing platform, the companies said.

The money amounts to a vote of confidence in SoundCloud, which was on shaky ground less than three years ago before it landed $170 million in funds from boutique investment bank Raine Group and Singapore investment company Temasek to stay afloat.

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