Apple is reportedly set to buy Shazam at a bargain basement price

Terry Joseph
December 9, 2017

According to the report, the deal could be signed by the end of the day today, with an official announcement coming as early as Monday.

Photo Shazam said a year ago that it had surpassed a billion mobile downloads. (It did not make Apple's list of most popular apps for 2017.) The app also allows users to connect to iTunes to buy the tracks that were "Shazamed", as well as to streaming services such as Spotify and Google Play.

Shazam is the music discovery app that enables a smartphone owner to identify just about any song simply by tapping a button and holding their phone within listening range of the audio.

TechCrunch first reported on the pending deal. It made a statutory pre-tax loss of £4 million ($5.3 million) in 2016, which was still a loss but significantly smaller than the £16.6 million loss in FY 2015.

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The service even spawned a TV show called "Beat Shazam", which is exactly what it sounds like. Last year, the company said that it had surpassed a billion mobile downloads and was used by "hundreds of millions of people each month".

Neither Apple nor Shazam has confirmed a deal is in the works.

Apple is close to acquiring Shazam Entertainment, the startup whose music recognition app is already built into Apple's Siri virtual assistant, according to a person familiar with the discussions.

It also has an augmented reality brand marketing service lets you discover content based on pictures that you snap with the app.

Other reports by Free-Prsite

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