SoundCloud has lost two high level executives in what could be a collar-pulling year for the Berlin-based streaming platform. On Monday, the company confirmed with the Financial Times that chief operating officer Marc Strigel and finance director Markus Harder have departed. "After five or so years, they felt it was time to move on to new adventures," a spokesperson said.
But the FT added some vinegar to what could've been a ho-hum staffing report by quoting an anonymous "German financier" as saying the company is out there "begging for money" from investors. The source added, "but I wouldn't give them any right now... they need to rethink their valuation and settle for a [lower valued] round."
SoundCloud is indeed seeking funds -- startups do that -- and in a financial filing in January, co-founder Alexander Ljung did warn that, while they believe they've got enough in the bank to meet obligations through year's end, certain "risks and uncertainties may cause the company to run out of cash earlier than that date, and would require the Group to raise additional funds which are not currently planned."