Apple to buy music discovery platform Shazam
0Apple to buy music discovery platform Shazam.
Reports today indicate that Apple is in the final stages of a deal with music discovery platform Shazam.
According to initial reports from TechCrunch, the deal could be announced as soon as Monday. If the sale happens, the price being floated is around $400 million, a number Recode later confirmed. This would mark a significant discount for a company valued at around $1 billion in its last funding round. Shazam has, since its 2002 launch, raised at least $140 million.
The news follows earlier rumors of Snapchat as a potential suitor. Snap inked a deal late last year that allowed Snapchatters to Shazam a song from within the app. In the end, it would appear Apple won out. It’s unclear how the new deal would affect these older agreements.
As for the reason behind the acquisition, we’ve yet to hear any official statements — or confirmation from either party that it’s even happening: although we’re certain it is. Multiple requests have gone unanswered.