Remember Shazam? App is valued at $1 billion
posted by Alan F. / Jan 20, 2015, 2:24 PM
100 million people used Shazam every month of last year, compared to the 70 million that did so in 2013. With that in mind, the company raised $30 million in a new round of funding on Monday. That stake works out to a bit under 3% of the company which means that Shazam now has a billion dollar valuation. Shazam is "intentionally not profitable" as it reinvests proceeds into new technology. The latest public information shows that for the six months ended December 31, 2013, the company lost $8.8 million on revenue of $25.6 million.
Shazam earns its daily bread by taking a cut of digital music downloads from iTunes and other music repositories that it sends users to. Five years ago, Shazam added television commercials to its database of 35 million songs, and will expand to stores, products and print ads that can be identified using a smartphone camera.
The company is branching into advertising. Those shopping in Office Depot and Office Max in the U.S. can open the app to receive promotional offers to use in the stores. Eventually, you might open Shazam while at a concert, movie or the supermarket seeking more information. The app has certainly come a long way since its debut in 2002. Back then, you would place your cellphone near the source of the music and receive a text with the name of a song.
I Don't have shazam installed anymore as it is integrated into Siri. It has been and still is the best service to discover music. The integration into Siri was a huge huge plus!
posted on Jan 20, 2015, 3:09 PM 1
Posts: 2277; Member since: Sep 21, 2012
How does the SoundHound app compare?
posted on Jan 20, 2015, 3:33 PM 0
Posts: 187; Member since: Dec 17, 2014
shazam is better, discovers music that soundhound couldnt for me.
posted on Jan 20, 2015, 6:27 PM 1
Not sure about Sound Hound, but the reason I stuck to Shazam is that it identified 100% of music from my native country (unless it was a remix of a remix version or something weird like that). But bottom line - shazam crosses countries and languages. Sound hound maybe too, but due to perfect accuracy of shazam I never needed to look anywhere else. Plus it links to buy on iTunes (including most international music).
posted on Jan 21, 2015, 2:27 AM 0
Posts: 3165; Member since: Jun 19, 2010
Shazam is pretty nice, and has gotten better over the years. On some songs it identifies it in less than 2 seconds, much better than back in the day when it had to listen to a decent sized chunk of song, like 15 seconds or so. I find it's worth more than the $18 billion Facebook spent on Instagram.
posted on Jan 20, 2015, 4:21 PM 0
Posts: 311; Member since: Apr 01, 2014
Yes, I remember Shazam. What I remember best is Shazam always being ready to sell me stuff 10x faster than to point me to the video of a song I had tagged previously, and most notably, about asking me for money (go Pro) in exchange for giving me a list of my tagged music. As soon as it happened, I copied that list of songs to a youtube playlist and uninstalled Shazam the next minute. Yes Shazam is fast, but that's where the good stuff ends. :( Shazam is the biggest data whore in the whole PlayStore and it's got the nerve to try to sell you the data you fed it with. Soundhound even if slower is in another league altogether in the way it treats you and your tags. I can't recommend it high enough.
posted on Jan 21, 2015, 4:49 AM 0
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