Apple Buys Shazam for $400 Million

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Shazam is a popular song recognition service in the world with millions of its users around the globe. The giant has officially announced this acquisition. Apple is not likely to disclose the price but we have several sources that have confirmed to us that the deal is in the region of $400 million.

It is also worth noting that Shazam is more than just a media recognition tool today.

"We are thrilled that Shazam and its talented team will be joining Apple".

It went on: "Apple Music and Shazam are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users. We have exciting plans in store".

Shazam in November had around 175 million monthly active users across the world from iOS and Android, with a market of 20 million users in the USA and 4 million in the UK.

Interestingly, this is the first major acquisition after the Cupertino-based giant bought Beats in 2014 for almost $3 billion.

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All you need to do is record part of the song using the Shazam app, and it will message you the song title and the name of the artist after analyzing the clip.

Apple's refusing to share just how much it paid for Shazam. There will be a Buy button as well.

Apple haven't released a formal press release on the purchase. The actual acquisition process was begun before 6 months and finally, on this date, Apple has made an official announcement regarding this acquisition. Siri already sports Shazam integration, but Apple could take things to the next level and bake it even deeper into iOS, similarly to how Google embedded music recognition into the Pixel. Although the app now comes with a number of new features, the fact remains that Shazam has been struggling to raise money.

With Shazam making moves into augmented reality Apple might be looking to rush head first into that market given the success of the iPhone X and its Aniemojis. 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. The core functionality of this platform is to recognise the song and to give you proper information about that song with direct buy button.

Shazam, which was founded in 1999 in the early age of online music, has struggled to find a way to make money from its technology, even as it said it reached one billion downloads on smartphones previous year.