Daily Trends Now
Daily Trends Now


Apple in talks to buy Shazam for $560m

Later that year, it arrived on Android, and it has continued to maintain a strong userbase.

Here's a pairing we didn't quite see coming: Apple is close to buying Shazam, the music recognition app, according to a new report. Truthfully, there have been many rumors as to how much exactly the popular technology company will be buying Shazam for.

With over 1 billion downloads, Shazam has been popular in its almost 19 years of independence, but the company only pulled in $54 million in revenue in 2016, while losing $5.3 million in the year was a signal it still had a long way to go.

The Shazam app uses the microphone on a smartphone to identify nearly any song playing nearby.

One side advantage of this if anyhow Apple decides in shutting down the app, it will be affecting competing streaming such as; Google Play Music and Spotify, where Shazam propels over 1 million clicks per day, a reported by the WSJ.




With the popularity of Shazam's iOS app, it is clear that Apple users want this sort of functionality in their phones.

Shazam says over 100 million people use its app every month. The app lets you identify any song, movie or a TV show from the audio playing around you. If the $400 million buyout price is true, then that represents a significant drop from its last funding round, which put Shazam at a valuation of around $1 billion. Unfortunately, the company only pulled in $54 million in revenue in 2016, while also losing $5.3 million in the year.

But the actual benefit for Apple may arrive from the augmented tech of Shazam.

Apple is making another big move this year. Since Apple's AR interests have been anything but a secret, both the companies' interests are aligned.

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