SoundCloud CEO Alexander Ljung has responded to reports of his company being on the verge of running out of money with a blog post claiming it is “here to stay”.

He also got backing from one of the most prominent artists using the platform: Chance the Rapper.

“There’s an insane amount of noise about SoundCloud in the world right now. And it’s just that, noise. The music you love on SoundCloud isn’t going away, the music you shared or uploaded isn’t going away, because SoundCloud is not going away,” wrote Ljung in a blog post addressed to listeners.

“Not in 50 days, not in 80 days or anytime in the foreseeable future. Your music is safe… Last week we had to make some tough decisions to let go of some of our staff, but we did this to ensure SoundCloud remains a strong, independent company.”

There weren’t any more details on *how* SoundCloud plans to do this, but Ljung clearly won over Chance the Rapper.

“Just had a very fruitful call with Alex Ljung. @SoundCloud is here to stay,” tweeted the artist on Friday. He followed up by dropping a new collaboration with Young Thug, making it exclusively available on SoundCloud as a show of support.

Not everyone is sure SoundCloud is here to stay though: a group called the Archive Team has begun ‘large scale backing up’ of SoundCloud for posterity, in case it goes down.

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