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The funding is to meet the company's expected 2.5 times
year-on-year revenue growth in 2017, a company spokeswoman said.
SoundCloud, which is facing increasing competition from
companies including Apple Inc's Apple Music, Pandora Media Inc
and Spotify, launched a budget subscription package last month
aimed at converting more listeners to paying subscribers.
The company, which was launched in 2008, raised $100 million in
June from a group of investors including Twitter, valuing it at
roughly $700 million, according to Recode.
(Reporting by Kanishka Singh in Bengaluru and Eric Auchard;
Editing by Alexander Smith)
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