Apple acquires ‘Shazam’ worth $400 million to offer ad-free services

There were reports stating that Apple is going to acquire music recognition mobile application ‘Shazam’, now Apple has finally sealed the deal for about $400 million. Apple on September 25 announced that it has completed the acquisition and it would soon be available to use ad-free application for everyone.

Since then application, Shazam has already been downloaded by over one billion users around the world. According to the report, every day 20 million users use the Shazam app to identify songs, music and voice. The application Shazam was launched in the Windows marketplace in the year 2009 and since then it has been one of the most loved music recognition apps.

Oliver Schusser,  vice president of Apple Music said in a statement. “With a shared love of music and innovation, we are thrilled to bring our teams together to provide users even more great ways to discover, experience and enjoy music.

The application Shazam can be downloaded in Android and Windows and iOs which allows users to identify a song playing on the radio or any sound output device. It listens to a fragment of the music and matches it to the millions of songs in its database.

The Apple-Shazam deal comes almost three weeks after the EU finally gave a green light to the deal after Apple first made public its intention to buy the startup.

In September last year, music recognition application, Shazam reportedly made £40.3 million ($54 million) in revenues in its 2016 fiscal year, which was a turnaround from the declines between FY 2014 and 2015. It made a statutory pre-tax loss of £4 million ($5.3 million) in 2016, which was still a loss but significantly smaller than the £16.6 million loss in FY 2015.

The application Shazam was built by Shazam Entertainment Ltd, a British app development company, it helps people discover, interact with and share video, audio or printed content across devices. Now, Shazam is the seventh most famous music recognition app on Apple’s App Store.

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