![]() ![]() 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. Shazam last noted that it passed 1 billion downloads, but that was back in September 2016, meaning those numbers are likely higher now.īut in the world of apps, high numbers do not always translate into profits: In September 2017, Shazam reportedly made £40.3 million ($54 million) in revenues in its 2016 fiscal year, which was a turnaround from the declines between FY 20. Kleiner Perkins also invested in competitor SoundHound. In all, Shazam has raised $143.5 million from investors that include Kleiner Perkins, London’s DN Capital, IVP and strategic investors Sony Music, Universal Music and Access Industries (which owns Warner Music). Notably, though, the numbers we’ve heard are lower than the $1.02 billion (according to PitchBook) post-money valuation the company had in its last funding round, in 2015. One source describes the deal as in the nine figures another puts it at around £300 million ($401 million). We have heard that the deal is being signed this week, and will be announced on Monday, although that could always change. Sources tell us that the company is close to acquiring Shazam, the popular app that lets people identify any song, TV show, film or advert in seconds, by listening to an audio clip or (in the case of, say, an ad) a visual fragment, and then takes you to content relevant to that search. Update: this story has now been confirmed.Īs Spotify continues to inch towards a public listing, Apple is making a move of its own to step up its game in music services. ![]()
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