Sirius XM completed a $75m investment into SoundCloud.

Sirius XM, an audio entertainment company, completed a $75m investment into SoundCloud, an open audio platform. “SoundCloud’s unique platform serves a vital role in today’s music ecosystem where new artists are discovered and build their fan base, and established artists experiment and connect directly with their fans in highly effective ways. We admire SoundCloud’s loyal and growing audience, its offering for creators, and its reputation and popularity in global music communities. We believe this is another opportunity to continue creating value for SiriusXM stockholders by investing in expanding digital audio platforms,” Jim Meyer, SiriusXM Chief Executive Officer.