SoundCloud, the ‘YouTube for audio’, cuts 173 jobs, closes San Francisco, London offices

The news comes after a rough period for SoundCloud. After opening but never closing two potential acquisitions, first to Twitter and then to Spotify, in March, Soundcloud arranged a $70 million credit line to help the business continue to operate as it worked on closing a round of funding believed to be in the region of $100 million. – Ingrid Lunden, TechCrunch