Apple To Buy Shazam For $400 Million - Noise11.com
Shazam

Shazam

Apple To Buy Shazam For $400 Million

by Paul Cashmere on December 9, 2017

in News,Noise Pro

Apple is making a move to strengthen its music service with the acquisition of British music discover app Shazam.

Early reports suggest the sale could be around $400 million although one source puts its closer to $1 billion.

Shazam was founded by Chris Barton and Philip Inghelbrecht in 1999, both students of the University of California in Berkeley.

The Shazam technology uses the in-built microphone in a computer or phone to grab a sample of music being played and create an acoustic fingerprint of the sample. It then compares the sample to a central database for a match. The database has over 11 million songs recorded.

The Shazam app has been downloaded over 1 billion times.

Shazam generated about $US54 million in revenue in 2016.

Neither Shazam or Apple have made a public statement about the acquisition at this point.

Noise11.com

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