In one of those rare times where „sources“ were correct, both Apple and Shazam have confirmed that the iPhone maker has purchased the app that lets users identify song or video tidbits. What’s next?
As if by magic, it appears the „sources“ that reported that Apple would be acquiring music identification app Shazam were correct. The deal has been announced today as promised, but with few details.
The purchase price on the deal was not announced, but since we can now lend some relevance to the veracity of the sources, they said at the time that the deal would be for around $400 million, substantially less than the company’s last valuation of about $1 billion. Last year, Shazam announced that the app had more than one billion downloads.
Apple, via spokesperson Tom Neumayr, offered up the usual „this is great for us“ official statement:
And Shazam spokesperson Giovanni Bossio was equally moved:
It is not clear at this point what Apple plans on doing with the company and its „talented team.“ It could be another way of pushing people to Apple Music, in much the way the purchase of Beats was in 2014.Apple is facing stiff competition from Amazon Music and other streaming music providers, so an infusion of new functionality for the service may help set it apart enough to give it a boost.
However, until we have something definitive, we’ll have to wait and see what type of magic Apple has planned for Shazam.
Source: Business Insider| Image via Variety
