Index Ventures et al. back SoundCloud

Fred Wilson from Union Square Ventures and Mike Volpi from Index, who have been working with SoundCloud's team since last year, will join the board.

SoundCloud was founded in 2007 and is based in Berlin. The company allows its users to stream, share and post tracks on the site in a similar manner to video platform YouTube. The audio distribution platform has more than two million users and offers apps for iPhone and Android to record audio directly from the site. It recently launched a desktop app for the new Mac App store which has so far been downloaded more than one million times.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Diana Petrowicz on +44 20 7004 7505 or diana.petrowicz@incisivemedia.com

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