Soundcloud may be on its knees but Chance the Rapper says it's

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Chance later followed up that he had a "fruitful conversation" with Ljung and that SoundCloud is "here to stay".

According to Bloomberg, the decision to cut staff was made in the hope that streamlining the company would enable SoundCloud to compete with rival streaming services Spotify and Apple Music.

Earlier this week, SoundCloud executives revealed the company was struggling and and was forced to lay off over 40% of its workforce. "Not in 50 days, not in 80 days or anytime in the foreseeable future". "And it's just that, noise".

Soundcloud's bleak future appears to have taken a u-turn after Chance the Rapper asserted that the audio streaming site was "here to stay" following talks with one of its founders.

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The SoundCloud Twitter account also confirmed that they are not planning to go anywhere.

In a blog post on SoundCloud's website, Ljung assured fans that they are staying put. You can read that in full below.

Chance, whose career began thanks to SoundCloud, recently Tweeted out a message which seemed to indicate that he has had contact with SoundCloud's CEO, and tried to organise a resolution to the company's apparent crisis.

The musician tweeted on Thursday: "I'm working on the SoundCloud thing." Your music is safe. "@ an artist who you wouldn't know if not for SoundCloud", he wrote. That's not going to change.

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