Apple Might Be About To Buy Shazam

In 2016, Shazam had about $54 million in revenue and $4.9 million in net losses, according to public filings in Britain, where the company is based.

Built by Shazam Entertainment Ltd, a British app development company, Shazam is used by hundreds of millions of people each month to instantly identify music that's playing and see what others are discovering.

Apple's offer for Shazam is significantly lower than the most recent valuation of the company of around $1 billion (in 2015).

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Reuters/Yuya ShinoApple is reportedly acquiring Shazam. Now we have a new scenario involving Apple and Shazam.

If the acquisition gets finalized, Apple may be looking to integrate Shazam's features into its operating system, iOS. Furthermore, even though Snap (Snapchat) also approached Shazam about a deal, Apple's offer must have been the most attractive.

If the acquisition goes ahead it will be the biggest music acquisition Apple has added to its repertoire since it bought Dr Dre's Beats Electronics in 2014 for $3bn.

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With Google planning to start its own Music subscription service, Apple is stepping up its game. In comparison, Spotify has over 60 million paying users and 140 million users overall.

Launched in 1999 as an SMS code service, Shazam reportedly made United States $54 million in revenues in the fiscal year 2016. The company could also make use of Shazam's augmented reality technology that lets you scan real life items such as magazines, books, posters and such, to launch 3D animations, product visualisations and 36-degree videos.

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