It’s not Spotify level funding, but it’s pretty damn big — especially for a music play. Or, mostly a music play: enter Shazam, who just scored a monstrous, $40 million funding round from Carlos Slim-headed America Movil. The investment comes alongside a packaged, strategic play with Movil, one that includes pre-loading Shazam apps into a range of devices.
The Slim injection comes roughly two years after a similarly-massive, $32 million round in 2011. That round, led by Kleiner Perkins Caufield & Byers (KPCB) and Institutional Venture Partners (IVP), among others, came as the company was rapidly spreading its recognition capabilities into areas like television and advertising.
Fast-forward to the present, and Shazam is now playing a ‘Google for audio’ game with serious IPO buzz. And, generating $300 million in download sales per year, largely via iTunes and Amazon referrals.
Written while listening to Brahms.