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Main » Apple beats Snap and Spotify in race to acquire Shazam

Apple beats Snap and Spotify in race to acquire Shazam

13 December 2017

The last major acquisition made by Apple was in 1996 when it purchased Next Computer Inc.at a cost equivalent to $600 million in today's currency.

Shazam has been downloaded over 1bn times and although Shazam is popular with smartphone users it has struggled to make much money, with revenues of $54m in 2016. While the company has not revealed the financial terms of the deal, it is reportedly worth around $400 million.

But Shazam has struggled to find a way to make money off its technology, even as it said that it had reached one billion downloads on smartphones previous year.

The app, which analyses audio clips to identify songs, TV shows, films or adverts in seconds, was last valued at £750m in 2015.

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As per the resources, Shazam was also in talks with Spotify and Snapchat for the same.

The official statement reads: "Apple Music and Shazam are a natural fit, sharing our passion for music discovery and delivering great music experiences to our users".

Apple has officially confirmed that it has acquired music recognition application Shazam.

Apple will be mindful that first Google Now and subsequently Google Assistant have used in-house technology to let Android users identify songs. "We have exciting plans in store, and we look forward to combining with Shazam upon approval of today's agreement".

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"We are excited to announce that Shazam has entered into an agreement to become part of Apple". This feature is a good advantage if a developer is trying to draw attention to their new app.

On Monday, Apple said that it would buy Shazam in a fresh bid to secure an edge in the intensifying battle of streaming services, as Spotify moves towards a public listing. The company continued investing heavily - most notably by acquiring Beats Music and Beats Electronics, a headphones and speakers company combined with a streaming service founded by rap mogul Dr. Dre and producer Jimmy Iovine. So we are not sure about this deal and how Apple will generate the revenue from it.

Since its launch, Shazam has kept adding to its services.

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Apple beats Snap and Spotify in race to acquire Shazam