SoundCloud Raises Reported $50 Million Led By Kleiner Perkins

(UPDATED) SoundCloud has closed a new funding round led by Kleiner Perkins Caufield & Byers.  While the amount was not officially closed, sources put the total at $50 million based on an impressive $200 million valuation.

GGV Capital also participated in the round, and  Mary Meeker, partner at Kleiner Perkins will be named to as take a board observer. Merker also serves on the board of Square. Previous funding totalled $12.5 million from Union Square, Index and Doughty Hanson.

Led by passionate and focused co-founders Eric Wahlforss (CTO) and Alexander Ljung (CEO), and with a growing base of 5 9 million users, SoundCloud is fast becoming the hub for audio on the web, much as YouTube has for video.