SoundCloud Raises $50M

SoundCloud, which develops an online service to allow users to record, promote, and share sounds with others, said today that it has raised a large funding, led by Kleiner Perkins Caufield & Byers, GGV Capital, along with others. The round has been reported to be worth $50M. As part of the funding, Mary Meeker of KPCB joins the company's board. SoundCloud has operations in San Francisco, Berlin, and London. The firm is also backed by Union Square Ventures, Iedex Ventures, and Doughy Hanson Technology Ventures.