Apple Buying Shazam, Possibly for $400 Million

A lot of SHAZAM's offerings dovetails with what APPLE is already working on already.

It appears Apple is planning to acquire Shazam, the song-recognition app, in a deal which could be finalized in a matter of days.

A deal for the app, which identifies songs and other media by matching its soundwaves to a large database, is expected to be announced by Monday.

Of course, nothing has been confirmed either by Apple or Shazam. But the company has had to adapt to the rise of streaming services - including Apple's own Apple Music. Sources have put the fee at around $400 million Dollars which is lower than the $1.02 billion post-money valuation the company based their last funding round in 2015 off of.

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The Shazam app allows users to identify the music that's playing nearby, such as a song in a restaurant or cafe.

Representatives from Apple and Shazam have declined to comment. The app quickly became one of the most popular smartphone apps when it launched in 2009.

During its September 2017 earnings report, Shazam posted $54 million in revenue over the course of its 2016 fiscal year, a turnaround from its previous two years.

Shazam also has a feature that lets users see what popular artists are Shazaming, and this could conceivably make its way to Apple Music, giving users another way to connect with artists and discover new music. So Apple must think the brand itself has value, and it's reasonable to assume it will integrate the feature into its iOS operating system.