Apple in talks to buy music recognition app Shazam
02:23, Dec 10, 2017
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Shazam, the critically-acclaimed music recognition service, will soon be sold off to the world's most valuable brand Apple. Later that year, it arrived on Android, and it has continued to maintain a strong userbase.
APPLE is close to acquiring SHAZAM, the app that can identifies songs, movies, and TV shows from audio clips, TECHCRUNCHreports.
If Apple buys out Shazam, it could mean big things for the app. Last year, the company said that it had surpassed a billion mobile downloads and was used by "hundreds of millions of people each month".
Shazam right now has agreements with other services like Spotify, Snapchat, and Google Play Music, but it's unclear at this point how this acquisition will affect those agreements. The app's features are also integrated into virtual assistant Siri.
Shazam's technology was introduced in 2002 as a dial-up service that would listen to a song for 30 seconds and send its user a text message identifying it. (Spotify does the same thing.) Apple may want to pull that whole process into Apple Music. According to the most recent round of funding in 2015, Shazam raised capital at a valuation of $1 billion.
The deal will be announced next week, according to reports. It will also get rid of the commission it pays to Shazam when users land on iTunes Store to buy content they discover on the platform. If the rumor is true, the company has lost 60% of its value in two years. Since Apple's AR interests have been anything but a secret, both the companies' interests are aligned. The technology lets users scan magazines, books, posters, advertisements, and other physical products which could then launch 3D animations, product visualizations, and 360-degree videos.
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