Apple Could Potentially Acquire Shazam For $400 Million
Shazam is one of the most popular cross-platform apps on the market amongst its category. The company has evolved over time and allows anybody to recognize a song that's playing in the background. However, there is news that Apple might acquire it for $400 million. It's not like Apple is making use of the company for the first time. Shazam support has existed on the iPhone since the launch of iOS 8 as it has been integrated with Siri to search and find songs. So let's dive in to see some more details on the matter.
Apple Acquiring Shazam For $400 Million?
Shazam has been a built-in feature for Apple's digital assistant. You simply asked Siri to recognize a song and the built-in integration of Shazam did the rest. The report comes from TechCrunch that the company is apparently in the process of acquiring the popular music recognition company or service. Multiple sources spoke with the publication which has given the notion to be true. One of the sources believes that Apple could be offering a nine-figure amount for the company while others predict that the amount could move around $401 million.
As Spotify continues to inch towards a public listing, Apple is making a move of its own to step up its game in music services. Sources tell us that the company is close to acquiring Shazam, the popular app that lets people identify any song, TV show, film or advert in seconds, by listening to an audio clip or (in the case of, say, an ad) a visual fragment, and then takes you to content relevant to that search.
We have heard that the deal is being signed this week, and will be announced on Monday, although that could always change.
The story has also been confirmed by the Financial Times. At the present stage, the Cupertino giant also has best-in-class apps Shazam apps for the Apple Watch, iOS as well as a Mac app. Shazam also integrated with the iPhone-maker's music streaming service. However, it is not limited to Apple Music. If the acquisition does take place, it will be interesting to see what happens with the Shazam app on iOS as well as Android. What plans would Apple have to make use of the company? However, whatever might the company choose to do with it, SoundHound will be a worthwhile alternative.
This is all for now, folks. What are your thoughts on Apple acquiring Shazam for $400 million? Share your views in the comments.