Sound Cloud denies rumors of bankruptcy and confirms its continued competition

SoundCloud’s editors have decided to put an end to widespread rumors and reports that the music network will stop working after nearly 50 days because of its bankruptcy.

“All user segments will remain, and so will we,” the network said on its official Twitter account. This is a confirmation of the bankruptcy news that began to spread after it laid off approximately 170 employees and closed two offices.

SoundCloud will seek to continue as long as possible, especially after it received a $ 70 million financing period ago. The decision to shut down its offices and lay off staff was a hope of continuing with the lowest possible costs, making the possibility of closing them two months later unlikely.

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