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SoundCloud Raises $50 Million Round Led By Kleiner Perkins

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SoundCloud has raised a new fundraising round led by Kleiner Perkins Caufield & Byers. The amount was not released but TechCrunch understands it to be $50 million. This would give the company a $200 million pre-money valuation. GGV Capital also participated in this round. The social sound platform which has seen high growth in the past year will use the funding to expand more rapidly, especially in the US. Mary Meeker, partner at Kleiner Perkins Caufield & Byers, will take a board observer seat at the company. She already serves on the board of Square.