Temasek Holdings reportedly in talks to invest in struggling SoundCloud

Temasek Holdings is keen to invest in SoundCloud, which is struggling to stay alive

Temasek Holdings, Singapore’s state investment firm, is reportedly in talks to buy a stake in online audio distribution platform Soundcloud, which has been struggling to generate income.

Bloomberg also reported that the Berlin-based platform has also held talks with Raine Group, an American financial institution that made the headlines after making an investment in Vice Media.

SoundCloud has more than 175 million users, but has had difficulties monetising its services to compete with the likes of Spotify and Deezer.

The platform last month retrenched 173 of its 420 staff and closed its offices in London and San Francisco.

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