Apple Buying Shazam, Possibly for $400 Million

Audrey Hill
December 9, 2017

While specifics on the deal are still sketchy, one source reported that Apple will approximately $400 million for the company. However, that would be less than the over $US1 billion valuation Shazam announced after its 2015 round of funding.

Shazam is the music discovery app that enables a smartphone owner to identify just about any song simply by tapping a button and holding their phone within listening range of the audio.

The deal will be announced next week, according to reports. The London-based company boasts more than 100 million monthly users, and hit one billion total downloads previous year.

In 2015, Shazam posted an annual loss of $22 million dollars.

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Apple Inc.is reportedly close to completing a $400 million acquisition of Shazam Entertainment Ltd., the London-based developer behind music identification app Shazam.

Shazam made $50 million in revenue a year ago, according to a person familiar with the company. Last year, the company said that it had surpassed a billion mobile downloads and was used by "hundreds of millions of people each month".

Shazam launched way back in 1999, well before the days of apps, as a service you reached by way of a SMS code - in fact, its first name was 2580, after the number you typed in the United Kingdom to access the service. Shazam has also been exploring ways to leverage augmented reality (AR) technology to connect users to content, and we all know how Tim Cook feels about AR.

What would Apple do with the acquisition of Shazam?

Other reports by MaliBehiribAe

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