Reports say SoundCloud is looking to sell for $1 billion

The future of SoundCloud has been a topic of discussion for some time, whether it be regarding deals with major labels or an investment from Twitter, and now there are reports the German company wants to sell.

Sources claim it's valuing itself at $1 billion, according to Bloomberg, hoping to increase growth and profit through its users. However, those close to discussions state there have been difficulties finding a buyer willing to pay the asking price.

The Bloomberg report also says SoundCloud may yet decide against selling, but the company and investor Doughty Hanson & Co. are "exploring strategic options".

Twitter was previously linked to buying the streaming service, later pulling out, but poured $70 million into it in June to "enable SoundCloud to remain focused on building value for creators and listeners alike".

SoundCloud's ad-free subscription service also came into play in March after licensing deals were struck with Universal Music Group, Warner Music Group and Sony Music.

There has been no official statement from SoundCloud regarding the reported sale.

Dave Turner is Mixmag's Digital News Editor, follow him on Twitter