Apple is buying Shazam for $400m
Shazam is an application that allows songs, TV shows, films or adverts to be recognized in seconds. All you have to do is play it an audio clip or a visual fragment and it will give you results of what it has found.
Shazam was launched way back in 1999 when apps were not yet discovered and it was a service you could pay for with an SMS and it included various options, such as following what many famous people have been listening to.
It has been reported that Apple is going to buy it so that they could step up in their own music services. The amount of money laid down for this purchase has not yet been officially confirmed but rumor has it that about 401 million $ is in the game, but it could also possibly be a lot more. This figure might seem a lot but when you take into consideration that the post-money valuation the company had in its last funding round was more than a billion dollars, this does not seem so much anymore. It just goes to show that Apple is buying Shazam at a big discount.
Nowadays, Shazam can integrate with many popular apps like Snapchat or Siri from Apple. It also works together with other apps for music, like Spotify and Apple Music. It is obvious that this acquisition is a very good business move that will make a lot of profit for Apple and get more and more users and subscribers every year.