Soundcloud Selling Stakes?

It's being reported this week that Soundcloud is close to making a deal to sell stakes for a majority of the company to two separate private equity firms. The indie music streaming service championed by artists has been struggling to stay afloat, and the rumored sale would keep the company functioning - at least for the foreseeable future. According to Bloomberg, "Soundcloud has previously spoken with rival music services Spotify and Deezer about a potential sale, but couldn't agree on a price. Chief Executive Officer Alex Ljung has rejected the prospect of selling the company, and would prefer to remain independent, the people said." A partial sale to private equity firms would be an interesting turn of events for the company. Read more on SoundCloud's efforts to remain operational here.