Music streaming site SoundCloud launched its premium music service, SoundCloud Go, in March of 2016, following sites such as Spotify, Pandora, and Apple Music. The company saw some growth following the launch of SoundCloud Go, but it comes after SoundCloud lost almost $52 million in 2015 according to MusicBusiness Worldwide. In September, word broke that Spotify was in talks to acquire SoundCloud to the tune to $1 billion, but it later backed away, reportedly because it was preparing for an initial public offering (IPO) in 2017.