According to some rumors, Apple is planning to buy a music naming app, Shazam. Apple and Shazam has nine years of partnership. Now after almost nine years, Apple to Acquire Shazam for $400 Million.
Report: Apple to Acquire Shazam for $400 Million
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The deal could be announced as soon as Monday. Apple already has licensing deals with Shazam to integrate its music recognition feature with Siri on iPhone and iPad. According to the most recent round of funding in 2015, Shazam raised capital at a valuation of $1 billion. So, if the rumors of acquisition is true, the company has lost 60% of its value in two years.
According to the Shazam, its app has been downloaded in 190 countries over 1 billion times. 20 million times a day. Moreover, Shazam is used to name a song, television show, movie poster, magazine ad or AR content.
Now the question is why Apple wants to buy it? The main reason could be to increase iTunes music sales. Shazam and Apple already have a partnership that allows users of the app to purchase on iTunes, songs whose title they discovered using Shazam. The app’s features are also integrated into virtual assistant Siri.
Not only Apple, Snapchat‘s parent company, Snap was reportedly also previously interested in Shazam. But this did not happen. So, if Apple purchase it, it could be a loss for Android Users.