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Cupe

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Cupe last won the day on August 8

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About Cupe

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    ADJF Beast User
  • Birthday 09/28/2006

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  1. Ideas for competitions

    How hard is this to get rolling with a bunch of people, especially noobs that haven't done it before? @LabRat
  2. So I can give prizes of $ADJF money that you can use to buy whatever you want in the store as prizes. But waht competitions can we run that will get people interested? The usual do a mix competition is a bit overdone these days.
  3. Amid rumours music streaming service SoundCloud was facing termination, chairman and founder Alexander Ljung claimed in a blog that 'SoundCloud is here to stay' after the company secured much needed funding. According to Ljung, SoundCloud just wrapped up its largest financing round, receiving $170m (£135m) from The Raine Group and Temasek. However, he also announced his resignation, revealing that Kerry Trainor and Mike Weissman will be joining SoundCloud as CEO and COO, respectively. As to why he is stepping down, Ljung said: "After a decade of balancing the roles of founder, CEO and chairman I’m excited to hand the CEO reins over to Kerry to allow me to fully focus on the role of the Chairman and the long-term. This, I know, sets us up as an even greater team for the decade(s) to come." "Over the last few weeks, I’ve been moved by the outpouring of commentary around SoundCloud’s unique & crucial role in driving what global culture is today (and what it will become tomorrow). 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," he continued. The trouble started when Soundcloud cut 40% of staff, closing up shop in London and San Francisco. However, many artists have extend their support to SoundCloud on social media platforms with Chance the Rapper resonating the founder's view that it's 'here to stay.'
  4. Will do a round on these posts tonight
  5. Two apps? What's the other one? @LabRat
  6. And they fix that fucking cunt awful app piece of shit. why can't it just work good
  7. SoundCloud has just closed the necessary funding round to keep the struggling music service afloat. CEO Alex Ljung will step aside though remain chairman as former Vimeo CEO Kerry Trainor replaces him. Mike Weissman will become COO as SoundCloud co-founder and CTO Eric Wahlforss stays as chief product officer. New York investment bank Raine Group and Singapore’s sovereign wealth fund Temasek have stepped in to lead the new Series F funding round of $169.5 million. https://techcrunch.com/2017/08/11/soundcloud-saved/
  8. A proposal has been sent to existing shareholders to accept or reject the investment by tomorrow, Friday. If accepted, the money would be injected into the company and it lives to fight another day. If rejected, then CEO Alexander Ljung suggests the company would not be able “to continue as a going concern,” reports Axios. There is a very real chance that the proposal could be rejected as Raine Group and Temasek would receive “preferential treatment,” according to Digital Music News. DMN explains this as, “In the case of an eventual fire-sale or liquidation, Raine and Temasek would get to recover their funds first, along with any other investors participating in this ‘Series F’.” Past investors, Series E investors, would have their liquidity preference slashed by over 40%, reports Axios. So either previous investors choose to take the short end of the stick, and keep the company afloat, or they reject the offer and the site goes down. However, there’s another factor in play that complicates things even further. ReCode reports that, even if the the deal is approved, Alex Ljung will be replaced as CEO by former Vimeo CEO Kerry Trainor. (Ljung will still stay on as chair of the company’s board.) Trainor would also bring in a new chief operating officer. All of these factors present a dizzying web of possibilities and concerns for all parties involved, a decision which will be made clear at some point during the day on Friday.
  9. Should we actually be downloading all our shit before it dies?
  10. SoundCloud will soon collapse if investors don’t vote for a rescue funding round tomorrow. The stumbling music streaming community site had to suddenly lay off 40 percent of its staff last month. Now it’s asking investors for $169.5 million at a pre-money enterprise valuation of just $150 million, according to Axios‘ reliable business editor Dan Primack. That’s a steep drop from the $700 million valuation of its previous rounds. If SoundCloud doesn’t get the funding, CEO Alexander Ljung reportedly told investors that SoundCloud won’t be able “to continue as a going concern.” That could force SoundCloud to sell even though Ljung has stubbornly fought to keep the dying startup independent. If it can’t find funding or a buyer, SoundCloud could vaporize, destroying its massive archive of user-uploaded music, podcasts and other sounds. Investors would be forgiven their distrust since SoundCloud has burned over $230 million in funding plus $70 million in debt with little monetization progress to show for it. [Update: At least this new funding deal would bring in new management. Recode reports that former Vimeo CEO Kerry Trainor would replace SoundCloud CEO Alex Ljung if investors do provide the funding.] Last month we detailed the many, MANY problems with SoundCloud. Employees told us the company is “a shitshow,” with a lack of product direction, talent leaving and employees secretly using Spotify. Rather than focus on its unique value proposition of being the “YouTube for Audio” with demos, DJ sets and remixes available nowhere else, SoundCloud chased dreams of grandeur as it tried to evolve into a Spotify competitor. But after taking years to negotiate deals with the major record labels, the extremely late $9.99 SoundCloud Go+ subscription service flopped. Meanwhile, it had burned credibility with core users like DJs by removing their music over dubious copyright claims while trying to suck up to the labels. SoundCloud lavishly spent money on offices around the world while its CEO galavanted at music festivals like a rock star. SoundCloud recklessly wasted money, hiring people up until the moment it announced they’d be immediately let go as part of the 173 layoffs it announced last month. Now staff morale is in the toilet, the user experience is a mess, the subscription models are unappealing, competitors are growing rapidly and musicians are fleeing to other upload platforms. That’s why it seems crazy for investors to fund a $170 million Series F to keep a sinking ship afloat a little longer unless SoundCloud is willing to swallow its pride and get acquired for whatever it can get. The new investors would be Raine Group and Temasek, plus existing backers Union Square Ventures, Doughty Hanson and Atlantic Technology. They’d at least get preferred stock that’s paid out upon exit before previous investors. But how are they to know they won’t get diluted too when SoundCloud runs out of money again? The new deal would reportedly reduce the liquidity preference of the previous Series E investors by over 40 percent. We reached out to SoundCloud PR and its CEO for comment or clarity on the do-or-die fundraise, but didn’t hear back. Investors’ best bet is to fund a small bridge round just big enough for SoundCloud to shop itself around and find a buyer. Perhaps Google would buy it to align the YouTube of Audio with the YouTube of YouTube. Or Amazon could step in and try to do for musicians what it did for book authors by creating a convenient aggregated marketplace, though acquiring Pandora might better mesh with Amazon’s mainstream demographic. SoundCloud has proven it can’t manage itself. It’s too damaged, too in debt and too far behind to thrive independently without a miracle turnaround. No matter what, the whole service is on shaky footing, so musicians may want to archive their audio and start promoting their presence somewhere safer.
  11. ADJF Store update

    I am shouting
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