SoundCloud has lost its first-ever chief financial officer. Holly Lim, who arrived from Google a little over a year ago with the lofty task of trying to maintain the firm's "financial health and capitalize on new opportunities for growth," will be taking the same title in a jump to radio streaming platform TuneIn, the company announced this week.
Lim joined SoundCloud five months after the company launched its first paid subscription service, Go, which put it in direct competition with Spotify and Apple Music, but has so far failed to catch on with its reported 170 million users. Layoffs and financial instability followed, but the struggling service received a lifeline in August in the form of a $169.5 million investment round, via Raine Group and Temasek. That same month founder Alex Ljung stepped down as CEO and was replaced by former Vimeo CEO Kerry Trainor.
At TuneIn, Lim will oversee departments related to finance, legal, human resources, and workplace/corporate development. She'll be based at TuneIn's headquarters in San Francisco -- a change of scenery after splitting time between NYC and Berlin while at SoundCloud. "We're thrilled to add Holly to the executive team," said John Donham, TuneIn's CEO. "Holly's experience in consumer subscription services, entertainment, and original content uniquely qualify her to join our team and help drive our business forward."