SoundCloud Posted A $29M Loss In 2013 On Revenues Of $14M

Wow, I thought Grooveshark would have these numbers…

TechCrunch

SoundCloud, the popular online music and audio sharing platform, is now exceeding 175 million listeners each month and is on track to reach 200 million. But its rapid growth has seen the company’s costs run away from its revenues.

According to recent annual filings for 2013, Soundcloud posted turnover of €11.2 million ($14.1 million) in 2013, up 40% from 2012’s revenues of €8 million. But its operating loss in the period more than doubled, to €23.1 million ($29.2 million) in 2013 from €12.4 million in 2012.

“We are in a phase of growing SoundCloud into the market-leading platform for listening to, creating and sharing sound,” the company notes in the filing. “This has necessitated investment in technology, headcount and marketing. Our overhead base has increased faster than our revenues.”

The company ended 2013 with 224 employees across Berlin, London, San Francisco and Sofia in Bulgaria — the Bulgaria part of the company coming by way of…

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