Apple to acquire Shazam for around $400m, says report

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Shazam launched way back in 1999, well before the days of apps, as a service you reached by way of a SMS code - in fact, its first name was 2580, after the number you typed in the United Kingdom to access the service.

Neither company has confirmed talks. 20 million times a day, Shazam is used to name a song, television show, movie poster, magazine ad or AR content.

An Apple-Shazam merger would also most certainly hurt competitors such as Google Play Music and Spotify, the latter of which has an existing partnership with Shazam.

Shazam made $50 million in revenue past year, according to a person familiar with the company.

Billboard reached out to Shazam for comment but did not hear back at time of publishing. It could be a done deal or Apple could have called Shazam's people up yesterday. That said, during Shazam's last round of funding in 2015 the post-money valuation was said to be $1.02 billion. Last year, they only made $54 million and lost $5.3 million.

Apple might be about to acquire music identification app Shazam - for a song.

The deal is supposedly done with an announcement set for next Monday. In 2016, the company added a new augmented reality feature, allowing users to scan branded Shazam codes to unlock deals and games on the app.

The move makes flawless sense for Apple as it looks to boost its own Apple Music streaming service, which is already linked to from within Shazam. Right now, Shazam integrates with the app, but that may change if Apple takes ownership.

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