Apple is reportedly buying Shazam, a music recognition app last valued at $1 billion
Dec 9, 2017, 02:44 IST
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- Apple is reportedly buying Shazam, a music recognition app.
- Apple is said to be paying $400 million for the company, which was last valued at $1 billion.
Apple is reportedly buying music recognition app Shazam, TechCrunch reports citing anonymous sources.
According to one of TechCrunch's sources, Apple is paying about $400 million for the company. That price is lower than Shazam's most recent post-money valuation of $1.02 billion, according to Pitchbook.
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The deal is expected to be signed this week, the report said
Shazam made $50 million in revenue last year, according to a person familiar with the company. Founded in 1999, Shazam can listen to music that's playing around you and identify the song title, artist, and album.
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Representatives for Apple and Shazam did not immediately respond to a request for comment.