Apple Plans to Acquire ShazamBy Elliot Bullman
The firm is negotiating the acquisition whose software helps users identify songs by pointing their phones to an audio source
The technology company Apple is negotiating the acquisition of Shazam Entertainment Ltd, whose software helps users identify songs by pointing their phones to an audio source.
Users of the Apple iPhone with the Shazam application installed can say: "Hi Siri, what is that song?" And the application will identify it. But Shazam has other characteristics, such as the ability to identify television programs, which still do not work with Siri, Reuters reported.
For its part TechCrunch previously reported on the talks and wrote that Apple could pay about 400 million dollars for Shazam and that an agreement could be signed next week.
According to information gathered by Reuters, Shazam has obtained 143 million dollars from DN Capital Limited, Institutional Venture Partners and Kleiner Perkins Caufield & Byers, among others, throughout its 18-year history, according to PitchBook, a firm that tracks investments of private capital.
The value reported by TechCrunch could be well below the more recent $ 1 billion Shazam valuation reported by PitchBook.
An acquisition of Shazam could help boost Apple's musical efforts by making it easier for users to find songs and add them to playlists in their Apple Music service. By mid-2017, Apple Music had 27 million subscribers, behind the Spotify music streaming service that has 60 million users.
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