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.
Shazam, which enables users to identify or ‘tag’ music tracks and learn more about TV shows via a smartphone app, has predicted the music artists that it expects will ‘break’ during 2014.
Overall, more than 400 million people use Shazam worldwide, with more than 15 million Shazam searches taking place every day.
Media engagement company Shazam, which offers a mobile-based music identification service, says its free mobile app has now been used more than 10 billion times to identify and ‘tag’ songs, television shows and TV ads.
The 10 billionth song was ‘Applause’ by Lady Gaga, which was tagged on an iOS device in the US state of New Jersey.
Podcast - 10th July 2013
We start this week's podcast by talking about an Android security risk - before moving on to new 4G services from EE, a drop in Nook tablet prices and a couple of quarterly results that disappointed the stock market.
In addition we discuss insurance complaints, Bluetooth Smart technology, a new multi-million investment in Shazam and some research about the future of apps.
America Movil, which is Latin America’s largest mobile telecom network operator, has invested $40 million in mobile music recognition and media engagement company Shazam.
The money will help accelerate Shazam’s growth as well as funding the development of new products.