Apple set to buy Shazam in $400M deal

Steve Phelps
December 10, 2017

Now after nearly nine years, Apple to Acquire Shazam for $400 Million. Later that year, it arrived on Android, and it has continued to maintain a strong userbase.

Shazam is a quite popular app, which surpassed 1 billion downloads in September 2016 itself.

Yesterday we posted a report that noted it had been a busy 24 hours in the streaming music business with news of a new YouTube music service and Spotify and Tencent acquiring minor stakes in each other. It's also not hard to imagine that the often used Save To Spotify feature within the Shazam app will go away forever.

The deal, if it happens, looks created to help Apple keep consumers inside its walled garden while offering them the kind of image- and music-driven engagements that are popular on mobile, either by keeping Shazam as a standalone app or by integrating its technology into iOS at a deeper level.

TechCrunch first reported on the pending deal. It eventually became one of the most popular mobile apps on Apple's App Store.

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Things get interesting with Shazam app, as it integrates augmented reality feature to find content based on pictures captured using the app. Shazam right now lets users scan magazines, posters, books, advertisements, and other physical products which then launch 3D animations, 360-degree videos, and product visualizations.

Now, Shazam is about to become the property of Apple.

Not only Apple, Snapchat's parent company, Snap was reportedly also previously interested in Shazam. Despite being a massive price tag, the $400 million value of Shazam is notably lower than in late 2015 when the app had its last round of funding, delivering a value of a staggering $1.02 billion.

Apple is making another big move this year. Yet it only pulled a revenue of $54 million that year and lost $5.3 million.

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