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SoundCloud and Kleiner Perkins: A Big Deal

Kleiner Perkins backs SoundCloud

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SoundCloud and Kleiner Perkins: A Big Deal
[ Business]

SoundCloud is officially a big deal. A really big deal. And the big deal that took place cements their placement in the world of big deals.

Perhaps you are asking, “What’s the big deal?”.

Kleiner Perkins Caufield & Byers has been referred to as the “largest and most established” venture capitalist firm in the world, by The Wall Street Journal. KPCB does not touch anything that will not generate millions of dollars.

To some, SoundCloud may largely be though of as the vehicle in which such entertaining clips as featured here could be heard. Clearly, it’s evolving to become much more, and investors are taking notice.

“SoundCloud has seen exponential growth this year in terms of users and greatly evolved our product offerings,” said SoundCloud founder & CEO, Alexander Ljung. “With Kleiner Perkins’ impeccable track record for recognizing and investing in companies with a long-term view, and their understanding and support for the potential of sound, we couldn’t be more excited about working together.”

Mary Meeker, a partner at Kleiner Perkins Caufield & Byers, will take a board observer seat at SoundCloud. Currently, she serves on the board of Square, and is involved in KPCB’s investments in Groupon, Legalzoom, Waze, 360buy.com, Spotify, Jawbone, One King’s Lane and Trendyol.

“Mary Meeker showed very clearly in her recent State of the Internet 2011 presentation that sound is the next frontier on the Web,” said Ljung. “That vision, along with spotlighting mobile and international markets, made it clear that Kleiner Perkins aligns with SoundCloud’s mission.”

The company’s previous funding came from B-Round investors Union Square Ventures and Index Ventures, and A-Round investor Doughty Hanson Technology Ventures.

SoundCloud and Kleiner Perkins: A Big Deal
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  • kit

    sounds like a big deal

    • kit

      a really big deal