SoundCloud Raises $10 Million From Index Ventures and Union Square

SoundCloud is a German music file sharing service that has raised $10 million in funding from Union Square Ventures and Index Ventures. SoundCloud lets amateur musicians share music with each other using a cloud-based file system. If the file violates copyright, then it is taken down in a similar manner that YouTube does it. SoundCloud plans on using the funding to scale faster and expand their presence in the U.S. [AllThingsD]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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