Apple is acquiring music recognition app Shazam
As Spotify continues to inch towards a public listing, Apple is making a move of its own to step up its game in music services. Sources tell us that the company is close to acquiring Shazam, the popular app that lets people identify any song, TV show, film or advert in seconds, by listening to an audio clip or (in the case of, say, an ad) a visual fragment, and then takes you to content relevant to that search.
We have heard that the deal is being signed this week, and will be announced on Monday, although that could always change.
One source describes the deal as in the nine figures; another puts it at around £300 million ($401 million). We are still asking around. Notably, though, the numbers we’ve heard are lower than the $1.02 billion (according to PitchBook) post-money valuation the company had in its last funding round, in 2015.
It also helps that Shazam has quietly worked on its augmented reality brand marketing, with augmented reality being an arena that Apple has focused on with iOS 11. We don’t know how much of Shazam’s offerings will carry over in the reported acquisition, but given their usefulness, it’s doubtful that Apple will not use all of them in some capacity.
We’ll likely get more details on Monday if the acquisition goes official.