Rumor: Apple looking to acquire Shazam, could add company’s technologies to audio/music assets

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Date: Monday, December 11th, 2017, 03:31
Category: Apple, Apple Music, Finance, Rumor, Siri

With Spotify gradually moving towards a public offering, it seems that Apple is looking to acquire yet another music property. Sources close to the story have stated that Apple is close to acquiring Shazam, the popular app that lets people identify any song, TV show, film or advertisement in seconds, by listening to an audio clip or a visual fragment, and then takes you to content relevant to that search.

It’s been said that the deal is being signed this week, and will be announced on Monday, although that could always change.

One source has stated that the deal could take place for around £300 million ($401 million). Other figures that have been cited are lower than the $1.02 billion (according to PitchBook) post-money valuation Shazam had in its last funding round, in 2015.


Shazam has raised $143.5 million in capital from investors that include Kleiner Perkins, London’s DN Capital, IVP and strategic investors Sony Music, Universal Music and Access Industries (which owns Warner Music).

The company’s CEO Rich Riley noted earlier this year, however, that operating at or near profitability is the intention as it’s been growing; and he also hinted that the company was, as a result, likely an acquisition target.

Shazam currently also integrates with other apps like Snapchat and Apple’s Siri as well as sends a good amount of traffic to other music apps such as Spotify and Apple Music. Once the traffic is received, there’s a potential to convert those clicks to purchases.

At present, neither Apple or Shazam has replied to requests for comment.

Stay tuned for additional details as they become available.

Via TechCrunch and PitchBook

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