Just when you thought SoundCloud was near its demise, Chance the Rapper has allegedly injected life into the digital streaming service.
On Thursday (July 13), reports surfaced that SoundCloud only had enough funding to last until the fourth quarter of 2017. Stunned by the news, the Chicago MC dialed in on Twitter to ensure that the fate of the streaming service was being taken care of. “I’m working on the SoundCloud thing,” said Chance on Thursday.
Hours after deliberation, Chano returned on social media with some new news regarding the standing of Soundcloud. “Just had a very fruitful call with Alex Ljung. @SoundCloud is here to stay,” he tweeted.
While Chance’s tweet provides the Internet and aspiring rappers a glimmer of hope, there hasn’t been any concrete details or reports on what transpired behind the scenes. On Thursday, nearly 40% of the company’s employees were laid off in what was deemed a cost-cutting move. According to Bloomberg, the decision was made in hopes of competing with rivaling streaming services, most notably Spotify and Apple Music.
In addition, SoundCloud’s offices in San Francisco and London were expected to be shut down, while the New York and Berlin headquarters remained intact.
Check out Chance’s tweets below. Billboard will keep you updated on any emerging details.
I’m working on the SoundCloud thing
— Lil Chano From 79th (@chancetherapper) July 13, 2017
Just had a very fruitful call with Alex Ljung. @SoundCloud is here to stay.
— Lil Chano From 79th (@chancetherapper) July 14, 2017