Cash-strapped SoundCloud raises â¹1,000 crore, CEO resigns
Music streaming app SoundCloud on Friday raised over a reported amount of â¹1,000 crore in funding by investment bank Raine Group of New York and Singapore's wealth fund Temasek. The startup said that Founder and former CEO Alexander Ljung has agreed to step down to become the Chairman of the board. In July, SoundCloud fired 173 employees amid cash crunch. 