SoundCloud Is Close to Sale of Stakes to Raine, Temasek
The SoundCloud app
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SoundCloud Ltd. is close to selling stakes to the Raine Group and Temasek Holdings, deals that would help stabilize the owner of the popular music-streaming service, according to people familiar with the matter.
The deal with Raine, a boutique bank that invested in Vice Media Inc. and advised Softbank Group Corp. on its acquisition of Sprint Corp., could close by the end of this week, said the people, who asked not to be identified discussing private negotiations. Temasek is Singapore’s state investment firm.