Apple Acquires Shazam For $400 Million
According to Bloomberg reports, Apple Inc. has agreed to purchase music-identification service Shazam. Terms of the deal weren’t disclosed, but an unidentified source claims Apple will pay $400 million for the U.K.-based startup.
Shazam, founded in 1999, created an app that can identify music, movies, advertising, and television shows based on a short sample played into a device’s microphone. According to the company, it is used by 300 million people in 200 countries and 33 languages.
The startup previously raised $143 million from Kleiner Perkins Caufield & Byers, Institutional Venture Partners, DN Capital, and Acacia Capital Partners.