Apple Inc Acquires Music Identification App Shazam For $400 Million

Apple revolutionized online music with iTunes and in 2015 launched Apple Music as the market turns to streaming which offers unlimited on-demand listening

Apple Inc Acquires Music Identification App Shazam For $400 Million

"We have exciting plans in store, and we look forward to combining with Shazam upon approval of today's agreement", it added.

As Shazam is holding a billion of users worldwide, so its consumer record and data is itself containing a value of $400 million.

The takeover of Shazam marks one of the largest ever acquisitions for Apple, with the company hailing it a "natural fit" for its Apple Music service. If that is the price, it likely represents a good deal for Apple - Shazam was valued at $1 billion at its last funding round in 2015. It is also stepping into the augmented reality to bring more realistic music experience. At its heart, Shazam has experience and assets in a few key areas: Music recognition, specifically algorithms to match snippets of songs; Video recognition, since Shazam can also match clips of TV shows and movies; A considerable and well-indexed database of media to match snippets to; And an incredibly popular app that sends millions of customers a month to streaming services. Siri already sports Shazam integration, but Apple could take things to the next level and bake it even deeper into iOS, similarly to how Google embedded music recognition into the Pixel.

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"We are thrilled that Shazam and its talented team will be joining Apple", a spokesperson for Apple said in a statement obtained by the Verge.

Apple Buys Song-Recognition App Shazam Tech giant Apple is buying Shazam, an app that can identify songs playing near a user's phone.

Shazam is a great platform which is already working on some other apps.

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But the Shazam app does a lot more than that.

Shazam in November had around 175 million monthly active users across the world from iOS and Android, with a market of 20 million users in the United States and 4 million in the UK. Key sources suggest that Apple has been hiring AR talent and is secretly working on some kind of commercial release. And this for sure which Apple will try to do in next steps. The company has launched its own music and video streaming service which nearly took two years to compete with the music companies like Spotify and Pandora.

The reason this move is interesting is because Shazam isn't all that profitable.

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