“ According to many online reports, Apple is paying about $400 million for the company. That price is lower than Shazam’s most recent post-money valuation of $1.02 billion. ”
According to many reports online, Apple is all set to buy Shazam, a music recognition app. Apple is said to be paying $400 million for the company, which was last valued at $1 billion.
According to one of online sources, Apple is paying about $400 million for the company. That price is lower than Shazam’s most recent post-money valuation of $1.02 billion, according to Pitchbook and according to the report, the deal is expected has already been signed.
Shazam made $50 million in revenue last year, according to a person familiar with the company. Founded in 1999, Shazam can listen to music that’s playing around you and identify the song title, artist, and album.
Shazam Entertainment Ltd. is a British app development company that created an app that can identify music, movies, advertising, and television shows, based on a short sample played and using the microphone on the device.On December 11, 2017, the company was bought by Apple Inc. The software is available for macOS, iOS, watchOS and tvOS. Shazam Entertainment Limited was founded in 1999 by Chris Barton, Philip Inghelbrecht, Avery Wang, and Dhiraj Mukherjee.
Shazam uses a smartphone or computer’s built-in microphone to gather a brief sample of audio being played. It creates an acoustic fingerprint based on the sample and compares it against a central database for a match. If it finds a match, it sends information such as the artist, song title, and album back to the user. Some implementations of Shazam incorporate relevant links to services such as iTunes, Spotify, YouTube, or Groove Music.
There is still no official confirmation from representatives for Apple and Shazam till now.