Reports have said that Apple is going to integrate Shazam into their iOS software, allowing users to identify songs through Siri and possibly other ways. This integration would boost Shazam’s user base by a large amount, and would be the perfect time to launch an IPO.
Shazam currently has 450 million users and 90 million monthly active users, according to the Wall Street Journal. Shazam’s current valuation is $500 million. The company was founded in 2000.
Now, sources say Access Industries (the company behind Warner Music Group), Universal Music Group, and Sony Music Entertainment each invested $3 million in Shazam..
Billboard says the investments were purchased from Acacia Capital Partners, one of Shazam’s early investors.
In early 2014, Warner Music Group and Shazam announced a joint record label. Warner signs rising unsigned acts to this label based on Shazam’s data.
Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u