SoundCloud's CEO is trying to stop rumours it's shutting down

Can he help give Sound Cloud another chance at success

This was followed by tweets from SoundCloud themselves saying, "*airhorn* Spread the word: "your music isn't going anywhere.

Last week, SoundCloud said it was firing 173 staffers and closing its London and San Francisco offices to focus on Berlin and NY.

On top of that, SoundCloud has received support from Grammy award-winning musician Chance the Rapper - after he revealed on Twitter that he had spoken with Ljung regarding SoundCloud's future.

As if that wasn't bad enough, TechCrunch then reported the company would only have enough money to last for 50 more days (which the company denied). After having what he called "a fruitful call" with SoundCloud cofounder Alex Ljung, Chance tweeted "SoundCloud is here to stay", a day later.

SoundCloud CEO Alex Ljung said in an announcement, "SoundCloud is not going away".

The news comes following what has arguably been SoundCloud's heaviest week ever, after letting go of 173 staff members and facing questions from all angles as to whether or not they can afford to keep going. "Your music is safe", he wrote.

It seems that through the power of the Twitter feedback and whatever backroom deals Chance and SoundCloud had, the website is now here to stay. Last week, the company laid off 40% of its staff in an effort to stay afloat and remain independent.

The rapper, real name Chancellor Bennett, has since retweeted a string of fans comments relating to his new music on the streaming site.

Both musicians have made a decision to release a single exclusively on Soundcloud for the goal of helping the platform in times of difficulty.

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