Music Business Worldwide has been breaking a majority of the SoundCloud related news over the last few weeks and once again we turn to them, and their sources, for the exciting news that SoundCloud has just allegedly received two investments courtesy of The Raine Group and Temasek Holdings. The platform’s approximate valuation now sits at around $300 million.
Last we checked in, back in March, SoundCloud was self-valued at around $700 million while Spotify’s brief discussions to purchase the company had them pegged around $1 billion Q3 2016. Supposedly, the two investments are set to amount to more than 50% of SoundCloud’s equity combined giving them majority share, and control, of the popular streaming platform. Taking into account the valuation and how much they’ve purchased, MBW estimates the total investment to be in the $150 – $160 million range.
The Raine Group is an integrated merchant bank with investments geared towards tech and media while Temasek Holdings is Singapore’s state-owned holding company which manages a portfolio of around $200 billion.
It remains to be seen whether both groups will maintain a long-term stake in the platform or seek to hand it off but either way, it looks like the SoundCloud saga isn’t quite over just yet.