Shazam may get bought by Apple, announcement expected Monday
It’s been a while since we’ve talked about acquisitions, right? Well, how about ones made by Apple that were of a public nature? As Apple resumes its development of products devoted to outputting and receiving audio and as our environments soak in more music than ever before, it seems that Infinite Loop wants to take full advantage of every vibration it can grasp.
There’s chatter picked up from TechCrunch mentioning that an announcement could be made on Monday that Apple has acquired music recognition service Shazam. One source pins the magic number to be around $400 million while another affirms that it is within the nine-digit range, though that would undervalue the company’s net worth of just over $1 billion estimated back in 2015.
UK-based Shazam lost since its inception up until it reported its billionth app download in late September of last year, but has still yet to report an annual profit.
Apple’s last blockbuster music-related acquisition was the Beats by Dr. Dre brand in 2014 for $3 billion. The company has since evolved upon its hardware portfolio and has shaped streaming music services around it.