Apple to buy Shazam2017-12-11 11:29 by Daniela
Tags: Apple, Shazam
Apple is reportedly planning to buy audio-recognition app Shazam in a nine-figure deal that could be valued around $400 million. That price would be a significant discount from its last round of funding, which valued the company at around $1 billion; the company had raised at least $140 million since 2002.
Shazam is a veteran of the first dotcom boom, dating back to 1999. Its free apps can identify an artist or song with a tap and a few seconds of listening, but in recent years the app has expanded into recognition of movies and TV shows, ads, and more to generate relevant search results. There's also a My Shazam tab in the app to see a list of all your songs, integrated directly with Apple services including iTunes and Apple Music$9.99 at Apple, as well as Spotify.
The move would mark one of Apple's most significant acquisitions since it bought Beats in 2014 for $3 billion. It's not clear what will happen to Shazam's existing deals with Spotify, which competes with Apple's music-streaming service, or Snapchat, which has integrated Shazam into its camera screen.
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