Shazam, the popular app which recognizes songs that are being played nearby, is being acquired by Apple. The Shazam app, which is available for iOS and Android users, identifies any song, movie, or TV show just by listening to it for a few seconds.
In a statement issued by an Apple spokesperson: “We are thrilled that Shazam and its talented team will be joining Apple. Since the launch on the App Store, Shazam has consistently ranked as one of the most popular apps for iOS. Today, it’s used by hundreds of millions of people around the world, across multiple platforms. 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, and we look forward to combining with Shazam upon approval of today’s agreement.”
Although the acquisition cost is not yet public, according to the speculation, it would be less than half of the $1 billion of Shazam’s value during its last fund raising round conducted in 2015.
Shazam was founded in 1999 in London; however, the app found its foothold in 2008 when Apple launched its App store. In 2013, Shazam CEO, Rich Riley, announced that Shazam was one of the 10 most popular apps in the world, and in September 2016, Shazam stated that it exceeded more than 1 billion downloads.
Apple hasn’t shared any plans about this acquisition, including what they plan to do with Shazam’s technology. Shazam is Apple’s latest acquisition with regards to its venture in the world of music tech. In 2014, Apple purchased Beats for $3 billion, a step that laid the foundation for the streaming service Apple Music. In 2016, Apple bought the popular Carpool Karaoke TV series. As of September 2017, Apple claims to have 30 million users.
Shazam said in a statement that it’s “excited to announce that Shazam has entered into an agreement to become part of Apple,” adding that it “can’t imagine a better home for Shazam to enable us to continue innovating and delivering magic for our users.” Shazam hasn’t said whether or not it will continue to operate its Android app once the deal closes.