SoundCloud’s CEO, Alex Ljung, has issued a statement in response to reports the company only had enough money left to last 50 days. He took to the SoundCloud blog last Friday saying that “there’s an insane amount of noise about SoundCloud in the world right now. And it’s just that, noise.”

Reports of came after SoundCloud shut down their London office and laying off almost 40 per cent of their staff. TechCrunch then reported that SoundCloud only had enough money to last until the end of Q4, but they responded saying they were fully funded, not just to last till Q4.

This is what Ljung had to say on the matter.

“The music you love on SoundCloud isn’t going away, the music you shared or uploaded isn’t going away, because SoundCloud is not going away. Not in 50 days, not in 80 days or anytime in the foreseeable future. Your music is safe.

Along with each of you, we’ve built this incredible creative community of artists, podcasters, DJs, producers and more who are the driving force in pushing culture forward in the world. That’s not going to change. Last week we had to make some tough decisions to let go of some of our staff, but we did this to ensure SoundCloud remains a strong, independent company.”

More to follow.

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