SoundCloud's New Direction

SoundCloud announced a major change in leadership late last week, appointing Kerry Trainor (formerly of Vimeo) as their new CEO. The company also appointed a handful of new board members, reduced their valuation, and announced the raising of about $169 million in new funding. With these changes they hope to accomplish a few things - most importantly: to keep SoundCloud up and running, make the company profitable, and re-focus on creators and content. Many think that new CEO Kerry Trainor plans to take the company in the same direction as he steered Vimeo, with CDM writing that "What's unique about Vimeo, under Kerry Trainor in particular, is that they found a way to compete by focusing on the creators uploading to the service rather than just the viewers watching it." Read more on future of SoundCloud here.