Officially Apple acquires Shazam for $400 million
Apple officially acquired Shazam for $400 million, according to Recode. Shazam allows users to identify songs, movies, TV shows, ads, and short audio tracks.
“We are thrilled that Shazam and its talented team will be joining Apple,” an Apple spokesperson told The Verge. “Apple Music and Shazam are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users. We have exciting plans in store, and we look forward to combining with Shazam upon approval of today’s agreement.”
“We are excited to announce that Shazam has entered into an agreement to become part of Apple,” Shazam said in a statement to The Verge. “Shazam is one of the highest rated apps in the world and loved by hundreds of millions of users and we can’t imagine a better home for Shazam to enable us to continue innovating and delivering magic for our users.”
The cost of Shazam’s acquisition is far from $1 billion, as estimated by the application during its last round of funding. The company finds it hard to find a viable business model, generating only 54 million revenue in 2016.
However, Shazam can help Apple in a number of ways. Most obviously, the app will be implemented in Apple Music. Also, Shazam can boost integration with Siri, with which it is already working.
Apple is probably interested in Shazam’s augmented reality technology, which can help improve the company’s offerings. The transaction must be finalized in the coming weeks pending approval by the regulatory authorities. Source: The Vergehttp://gizbrain.com/2017/12/12/apple-acquires-shazam-400-million/https://i0.wp.com/gizbrain.com/wp-content/uploads/2017/12/shazam-app.jpg?fit=1024%2C500https://i0.wp.com/gizbrain.com/wp-content/uploads/2017/12/shazam-app.jpg?fit=210%2C103APPLETECH NEWSapp,Apple,application,music,ShazamApple officially acquired Shazam for $400 million, according to Recode. Shazam allows users to identify songs, movies, TV shows, ads, and short audio tracks. “We are thrilled that Shazam and its talented team will be joining Apple,” an Apple spokesperson told The Verge. 'Apple Music and Shazam are a natural...John GreenJohn GreenJohngreen@gizbrain.comContributorJohn Green is a writer at GizBrain.GizBrain - Your Tech Brain