Apple Has Acquired Shazam [OFFICIAL]

Apple to buy music app Shazam

As Shazam's popularity grew, the company was courted by a variety of venture capitalists. While neither company has revealed the cost of the acquisition, sources told TechCrunch and other outlets Apple paid about $400 million. So it makes sense for the juggernaut to invest in a software brand that already has recurring revenue and loyal users in dozens of countries.

Apple has officially confirmed that it's buying Shazam, the UK music discovery app. As of mid-2017, Apple Music had 27 million subscribers, behind rival music streaming service Spotify's 60 million users. Shazam continues to be a popular app - it is used by more than 100 million people each month, according to Shazam, which has raised $143.5 million from investors like Kleiner Perkins, Sony Music and Universal Music. That loyalty could lead to more paying customers for Apple's own services, such as Apple Music.

Shazam has since deepened its product offerings and can now recognize a variety of content, including movies, advertising, and television shows.

It expanded beyond simple audio recognition in 2010 by adding capabilities that let television viewers "Shazam" an ad, which would then open a promotion from the advertiser on a user's device.

Here is the standard language Apple uses to acknowledge that yes, it has bought a company: "Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans".

The deal is pending regulatory approval, and should be closed in the coming weeks.

The addition of Shazam's technology is expected to add powerful features to Apple's digital assistant, Siri.

One can also wonder what happens to the mobile apps, especially those on Android. A year ago, it formed a partnership with SnapChat, the youth-driven social media platform whose videos evaporate, with users able to "snap" to friends the music they discover around them on Shazam. It might become a core part of the experience on iPhone, iPad, and even Mac computers that support Siri.

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