Apple Buying Shazam for $400 million
Love that music – just wish I knew what it was. That’s the problem we all have that Shazam sought to solve. We needed this, apparently.
Apple is close to acquiring Shazam, the music identification app that lets users identify a song, or some snippet of music, they hear, such as a tune playing over the sound system in a restaurant, or in a commercial on TV.
TechCrunch, which broke the story, reported late Friday that a source was putting the deal at around $400 million, but said the figure wasn’t confirmed.
Shazam has raised about $140 million from investors, including Sony. The app has been downloaded well over a billion times.
Shazam’s been around since 1999 – it existed as an SMS code service before there were even apps. It also integrates with Snapchat and Apple’s Siri and refers users to Spotify or Apple Music for them to purchase music once they’ve figured out what it is they were looking for.
Shazam has also developed a technology to allow users to point their phone at certain labels to get more information about a product.