Apple Reportedly in Talks to Acquire Shazam For $400 Million

Apple is getting real close to copping media-recognition app maker ShazamEntertainment for a cool $401 million. Casual. The report comes via TechCrunch, who isn’t naming and names when it comes to who spilled the beans (or shall we say bytes) on the potential deal. The $401 million price tag isn’t chump change, but it’s significantly less than half the $1.2 billion valuation Shazam announced in 2015.

Apple and Shazam have been working together for quite some time. Shazam app users can already click through to purchase songs they’ve identified on iTunes, and Shazam’s features are integrated with Siri.

Shazam launched all the way back in 1999 under the name 2580, because that was what you typed in via SMS to access the service. Shazam went on to make its appearance as one of the first apps available in Apple’s App Store back in 2008. Since then, it’s added a bunch of cool features. For example, users can now follow celebrities to see what music they’re Shazaming. Shazam has also evolved to allow their users to identify and share all kinds of media, not just music. They’ve even forayed into the world of augmented reality with their brand marketing service that lets users discover branded content based on pictures they take. Plus there’s the fact that “Shazam” has become a verb.

By September of 2016, Shazam said that their app was being downloaded over 1 billion times a day across 190 countries.  Experts speculate those number have since increased.

source: complex.com BY

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