SiriusXM Holdings has made another investment in the streaming audio technology field with a $75 million investment in Soundcloud.
The deal will give SiriusXM two seats on the Soundcloud Board of Directors. The relationship between the companies began last year when SiriusXM’s Pandora began handling ad sales for Soundcloud with the company stating that the agreement enables advertisers and brands to purchase SoundCloud’s U.S. ad inventory directly through Pandora, leveraging the company’s direct sales capabilities, targeting data, and audio programmatic platform to reach more than 100 million unique listeners, creating the largest digital audio advertising marketplace.
