SoundCloud, a platform for recording and sharing music online, has just completed a round of funding led by Kleiner Perkins Caufield & Byers with participation from GGV Capital. The dollar amount was undisclosed, but according to the press release, the funds were raised to allow for further expansion and scaling for mobile and international markets. TechCrunch believes the amount is $50 million and that “SoundCloud’s founders Alexander Ljung and Eric Wahlforss are gunning to do what YouTube did in video, but for audio.”
Every time I hear artists bellyaching that they are in the poorhouse because of the Internet, I wince in pain. Even if you’re not selling CD’s, there are a million and one other ways to parlay your musical success into a small fortune.
