Is this article based on anything substantial? They lost $44m in 2014 but raised $77m in 2015. The article refers to a report saying SoundCloud is heavily rel

Is this article based on anything substantial? They lost $44m in 2014 but raised $77m in 2015. The article refers to a report saying SoundCloud is heavily reliant on “further capital investment” to continue operating. Isn't that just another way of saying they're currently not turning a profit? Wouldn't that have been true of YouTube prior to acquisition? I'm not familiar with FACT. Looks like it may be a legitimate music industry publication. Looking at the other SoundCloud articles, it seems about 50% of them are in some way negative. That suggests to me that they might have an agenda they're pushing. http://www.factmag.com/tag/soundcloud/ http://www.factmag.com/tag/soundcloud/