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.
Latest From TechCrunch
Waze takes a small bite of the food business with ‘Order Ahead’ and Dunkin’ Donuts| Darrell Etherington
We could find out more about the mysterious Tesla ‘Model Y’ next week| Darrell Etherington
Shared EV access is expanding in Portland| Kristen Hall-Geisler
Judge criticizes Uber’s secrecy in lawsuit with Waymo| Kate Conger