SoundCloud net losses growing at faster rate than revenue - report
SoundCloud's revenue grew to €11.28m in 2013 - a 40% increase on the previous year - but its net losses increased by 86%, to €23.11m.
“Our overhead base has increased faster than our revenues,” states the company in its financial filing.
“We are in a phase of growing SoundCloud into the market leading platform for listening to, creating and sharing sound. This has necessitated investment in technology, headcount and marketing,” said the company.
MusicAlly points out that SoundCloud’s revenues were ...
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