On Friday morning, music fans learned that one of the most popular (and free) music streaming sites on the internet was in serious danger of disappearing. Luckily, after a last minute round of funding that totaled a whopping $170 million, Soundcloud will remain on the web. The round of funding, which was the largest in the company’s history, came from The Raine Group and Temasek. The infusion of funding was necessary after reports surfaced that indicated the company only had enough cash to stay in operation for 80 days.
However, it was also disclosed at that time that CEO Alex Ljung (who also co-founded the company with Eric Wahlforss) would be replaced. In his stead, former Vimeo CEO Kerry Trainor would be taking over operations of the organization. This obviously left Ljung’s role with the company unclear.
Today, according to Digital Music News, Ljung has issued a statement that clears up what his role with the digital music company will be. The statement, which was relatively short, friendly and upbeat, indicates that first that “SoundCloud is here to stay” as well as strong and independent.
“Over the last few weeks, I’ve been moved by the outpouring of commentary around SoundCloud’s unique and crucial role in driving what global culture is today (and what it will become tomorrow)” said Ljung in the statement. “You’ve told me how, without SoundCloud, there would be a giant gaping void in today’s world of music. We can’t have that, and I’m happy to once again say that won’t be happening.”
Immediately after, he indicates that he won’t be going anywhere either. With the addition of Trainor to the CEO position at Soundcloud, that will allow Ljung to focus on his position as Chairman of the company. He was previously juggling the roles of CEO and Chairman, and now will allow him to focus on the long-term success of the company.
He concludes the statement with a message of hope for the employees that remain with Soundcloud (as the company had to lay off 40% of its employees): “Ten years ago, this company was just an idea Eric [Wahlforss] and I bounced around. Today it’s a platform essential to the shaping of songs, artists, genres and global culture. I can’t fathom how we’ve been so lucky as to create that. But what’s even better is this: we’re all just getting started. The first 10 years are done, and now we’re onto decade II. SoundCloud, just like music, will continue to evolve, but importantly, both will always be a key part of life.” Ljung then signs off with his new title: Founder & Chairman, SoundCloud.