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WeTransfer offers laid-off SoundCloud employees $10K to ‘start something’ new

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WeTransfer is offering up more than just its two cents to help the music streaming industry.

With the announcement that SoundCloud laid off nearly 200 employees at the beginning of the month and closed its offices in London and San Francisco, the file sharing company WeTransfer saw an opportunity in those 173 former SoundCloud employees and decided to offer them $10,000 to continue their work in music streaming innovation instead of just ‘getting a job.’ After overwhelming support from other employees at WeTransfer, the company’s president, Damian Bradford, wrote to the 173 people and pitched his idea and vision.

“[W]e’d like to prevent you from just simply ‘getting a job.’ Why? What’s wrong with a job? Nothing. It’s just that you might stray from your original mission to change the way we consume or create music – an endeavor that made SoundCloud unique in the world of tech. So we’d like to make you an offer. $10,000 to start something. This is not a loan or equity exchange. What we would like to see is a proposal for something you could design, build or manage that could be the new mail-order record club, SoundCloud or iTunes. This is not an investment. I hear you – 10k is a modest amount – but we started small too, and it could act as a runway. Or it could pay for the lights on a runway. Somehow, it could help you get off the ground.”

Read Bradford’s full letter and comments here, and the FAQs about the deal here.

H/T: FACT

Read more:

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SoundCloud’s CEO releases statement regarding future of the struggling website

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