SoundCloud appointed Holly Lim as its first ever Chief Financial Officer.
Tasked to ‘maintaining our financial health’ was a statement released by SoundCloud when they announced Google Exec, Holly Lim as their first CFO. San Francisco-based Lim joins from Google, where she has worked for the past four years, most recently in the Business Operations, Cloud Platform & Network Operations department.
She was CEO of American heritage brand Stetson, before joining Google in 2012.
This announcement comes six months after SoundCloud hired Alison Moore, Chief Revenue Officer based in New York.
“SoundCloud exists in a world where the competitive context is complex – with the addition of Holly to the executive team, she will guide our financial strategy and help us establish a long-term view around how we maintain SoundCloud’s financial health and capitalise on new opportunities for growth”, said Alexander Ljung – SoundCloud CEO.
“Holly has a distinguished track record in financial and business leadership, and brings not only a deep understanding of the dynamics at work in companies with high growth potential, but also a sense of what is needed to scale globally,” he added.
The Berlin-based streaming service does not have significant royalty payments to rights-holders and over the years, added almost 68% in administrative expenses (increase in the number of staff).
“I’m excited to work with the entire executive team at SoundCloud as a strategic business partner and lead the company’s finance strategy. This new role presents an opportunity to not only help a burgeoning company grow – but develop the company vision and strategy with an entrepreneurial executive team”, said Lim.
She will officially begin the CFO role on September 6.