Photo: DPAStreaming platform SoundCloud, which has become a favorite tool of artists but has struggled to find ways to make money, said Thursday it would lay off nearly half its staff. The company said it would eliminate 173 of its 420 positions, closing its offices in London and San Francisco. SoundCloud is based in Berlin and will maintain a second office in New York. Talks failed both with Twitter and streaming leader Spotify to acquire and incorporate the site. "By reducing our costs and continuing our revenue growth, we're on our path to profitability and in control of SoundCloud's independent future," he wrote.

Source: The Local July 06, 2017 23:15 UTC