It is not uncommon for some of the best business ideas to be birth out of an individual’s need for something that they desire themselves. In some cases, this may be sharing information online with others in the same industry. Just like the beginning of SoundCloud, this business was established by a Swedish Sounder designer and a Swedish artist who made it possible for musicians to share their music on the same platform with one another. With Ljung and Wahlforss as the heads of this organization, August 2007 was not only the beginning of this practical way to connect musician’s with one another, but a method to get their fans involved too.
Even though this company is relatively young, it has made great strides in growth since it announced in May 2010 that it had one million users worldwide. Financially, this organization has also received an insurmountable amount of support from their investors since it raised as much as 10 million US dollars by the year 2011. Some of the most notable are listed as follows:
- Doughty Hanson Technology Ventures
- Union Square Ventures
- Ashton Ktcher
- Guy Oseary’s
Multi-Purpose Platform for Musicians and their Fans
Though musicians collaborative efforts were part of the initial start-up, its purposes have evolved overtime. With the fans on board all over the globe, the number of tracks available have also reached an awesome amount. For instance, the company is now reporting that there are 135 million tracks that has been sponsored by some of the biggest names in the industry. You can listen to a few of the Top 10 Tracks on YouTube here.
Newbies and old timers alike can provide their users with ways to stream their audio and videos on this platform that it is easy to use. To make the listeners’ pleasure much easier and less complicated, the company has come out with a wide range of useful features that can assist with these massive amounts. From giving the users a catalog to choose their genre of music to giving them access to the latest and most popular sounds, SoundCloud listens to their customers feedback and suggestions.
Outreach Target Audience is a Global Consideration
Reaching an audience of approximately 180 million users a month, SoundCloud’s CEO has provided some keys to its overall success. Starting with targeting a niche that can be focused on with a global commitment to reach large audiences on the very first day of the launch. This is because this niche idea had the potential to reach a diverse audience that ranged from capturing the attention and commitment of semi-professional musical artists to those who entertain the White House. Additionally, by using social media forums to get the word out, this market approach was a win win for all involved.
Funding this type of collaborative effort is not always as simple as most people may think. However, when the business idea is sound and has a lot of potential, the funding options that’s made available can be astronomical. Meaning the funding can come from a wide range of resources online via a global audience that has money to spend on new great and useful ideas. That being said, it is important for people who are interested in its funding and how its growing to understand the why’s, whos and the when. For instance, to fund this kind of organization, the leaders and their staff have been able to raise the money that is needed to keep thing running efficiently online and off. Some of the top providers of these types of funding includes SoundCloud Go and SoundCloud Pro since these are the tools that is needed to obtain finances from subscriptions of the site. Also, to gain access to live streaming and the like, it is important that people have mobile apps. These subscriptions give the company a significant part of the monetization resources that they need to keep things up and running smoothly at all times.
SoundCloud is privately owned so it is now being supported by its stockholders. Also, by employing around 300 employees, its operations can be supported by a wide range of different services. For instance, if a fan or a musician wants access to these services, they can purchase a monthly Subscription that will give them what they will need.