Company now valued at over $1 billion
Mobile-based music recognition service Shazam has arranged a new $30 million investment (around £20 million), which values the company at over $1 billion (£663 million).
The company has over 100 million active mobile users per month and has seen its app downloaded over 500 million times.
After a few weeks of rumours, Apple has confirmed that it’s acquiring Beats Electronics - the audio company founded by Jimmy Iovine and Dr Dre - along with the Beats Music streaming service.
The total deal is worth around $3 billion and is expected to be completed by the end of the year.
The quality of the audio experience on mobile devices hasn’t kept pace with other developments, according to a new report from ABI Research.
It described audio as “the Achilles’ heel” of feature phones, smartphones and tablets.
at Mobile World Congress 2014
James Rosewell writes:
I noticed a new phenomenon at Mobile World Congress this year: Beer O’Clock. Come 5pm Monday through Wednesday, companies with larger booths would break out the Cerveza, Vino, Cava and a small number of Orange juices. All very sociable and fun… until the music started.
MEF, the global trade association for companies engaged in mobile content and commerce, has revealed its mobile industry predictions for the next 12 months.
Its forecast combines insights from the group’s Global Board of Directors with research from the recent Global Mobile Consumer Survey.