Apple takes over Shazam for $400 million – Femtoptech

Apple takes over Shazam for $400 million

August 22, 2018
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The US technology giant Apple has officially confirmed to buy the music recognition service Shazam. Rumors of a possible takeover had first surfaced last week. With Shazam users can recognize songs that can be heard on the radio or in films. Only a few seconds of the song are enough for Shazam to identify him.

Apple takes over Shazam for $400 million

The app is considered one of the most popular music services in the world, it is valued at around one billion dollars. But the purchase price of Apple should be according to “Recode” with 400 million dollars far below. In fact, Shazam is struggling to find a suitable monetization model. The app only realized $ 56 million last year.

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Augmented Reality From Apple’s point of view, the acquisition of Shazam several times makes sense: The service can push about the in-house streaming service Apple Music, also the capabilities of the applications can be closely integrated with Apple’s mobile operating system iOS. Little is known that Shazam also has outstanding technology in the field of augmented reality, such as in object recognition. Apple could benefit from it with smart glasses or new iPhone features.

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