Apple is supplementing another critical weapon to its war chest in the battle against Spotify. Based on a new report which claims that the Apple company intends to buy Shazam app.
The favourite app helps users identify any Tv show, movie or song, instantly just by listening to it via a smartphone’s microphone. Albeit, iOS integrated Siri with Shazam a few years ago, but it appears that Apple Inc is looking to bring the whole app operation in-house(buy Shazam).
Even though Shazam was valued around $1 billion in its last funding round in 2015, Apple will allegedly pay significantly less than that amount.
Sources say the deal will be worth nine figures, but it could be in the lower end, like $401 million.
Since it was founded in 1999 Shazam has raised $143.5 million. Before apps were even a thing the only way to access Shazam app service was via SMS code.
Adding Shazam natively to iOS could undoubtedly be a boost to Apple Music. It’s uncertain if Apple will still allow other third-party apps like Spotify to connect to the app.
Spokespeople for both Apple and Shazam have declined to comment on the potential acquisition.
According to TechCrunch sources, the agreement between Apple and Shazam will supposedly be announced on Monday.