ELEVEN YEARS AGO, WHEN Alexander Ljung and Eric Wahlforss met as students at Sweden’s KTH Royal Institute of Technology, they had three things in common: They were obsessive music geeks; they used Macintosh computers; and they felt MySpace was bloated and overly complicated, especially for musicians. In 2008, the duo launched SoundCloud, a nimble, easy-to-use platform for artists to share new tracks instantly — and within months, Beck, Sonic Youth and Moby were on it, helping spread the service to 160,000 users
Now reaching 175 million users globally, SoundCloud continues to drive music culture, helping break hits like Desiigner’s “Panda” and spawning a grassroots, youthoriented wing of hip-hop known as “SoundCloud rap.” But due to a series of missteps, the German-based outfit is on life support, announcing 173 layoffs, drastic…