Mar 11, 2017

SoundCloud needs saving

Graham Smith/flickr

Recode reports that Soundcloud has been unsuccessfully trying to raise $100 million in funding since the summer, and is now talking to potential buyers, including Spotify, who opted not to buy the streaming service last year.

Why it matters: Investors initially valued SoundCloud at $750 million, but now Recode reports that SoundCloud may be willing to consider bids so long as they are higher than the roughly $250 million they've raised to date. Despite going back to investors for two additional round of funding, including a $70 million investment from Twitter in 2016, investors say SoundCloud's valuation remains the same.

What's in it for Spotify? SoundCloud's competitive advantage is its music library, not its user base. Last year, SoundCloud introduced a $10 monthly subscription service, similar to Spotify's, but the offering hasn't gained much traction against its competitors, mainly Spotify and Apple Music, which have 50 million and 20 million paid subscribers each.

Go deeper

Updated 36 mins ago - Politics & Policy

In photos: Protesters clash with police nationwide over George Floyd

Police officers grapple with protesters in Atlanta. Photo: Elijah Nouvelage/Getty Images

Police used tear gas, rubber bullets and pepper spray as the protests sparked by the killing of George Floyd spread nationwide on Friday evening.

The big picture: Police responded in force in cities ranging from Atlanta to Des Moines, Houston to Detroit, Milwaukee to Washington, D.C. and Denver to Louisville. In Los Angeles, police declared a stretch of downtown off limits, with Oakland issuing a similar warning.

Updated 55 mins ago - Politics & Policy

Gov. Tim Walz to mobilize Minnesota's full National Guard

Photo: Steel Brooks/Anadolu Agency via Getty Images

Minnesota Gov. Tim Walz announced on Saturday he is activating the full National Guard to respond to street violence in Minneapolis that broke out during protests of a police encounter that left a black man, George Floyd, dead.

Why it matters: This is the first time the state has activated the full National Guard since World War II. " The Minnesota National Guard told Axios in an email that up to 10,000 soldiers and airmen would be deployed after all activations and processing are complete.

Updated 1 hour ago - Science

Live updates: SpaceX attempts to launch NASA astronauts Saturday

SpaceX's Falcon 9 rocket on the launch pad. Photo: NASA/Joel Kowsky

At 3:22 p.m. ET today, SpaceX is expected to launch NASA astronauts Bob Behnken and Doug Hurley to the International Space Station for the first time.

Why it matters: The liftoff — should it go off without a hitch — will be the first time a private company has launched people to orbit. It will also bring crewed launches back to the U.S. for the first time in nine years, since the end of the space shuttle program.

Follow along below for live updates throughout the day...