Unprofitable Shazam Raises Another $30 Million

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In September it was reported that Shazam lost £5.3 million ($8.65 million) on £16.9 million ($27.6 million) in revenue in the second half of 2013. Apparently Shazam just needed cash injections.

In March 2014 the company raised $20 million.

Now, Shazam has raised another $30 million, with at least some of the money coming from new investors. They say this latest funding brings their valuation up to over $1 billion.

Shazam says they will use the money to continue “evolution and rapid growth”.

The company also reports that they have over 100 million monthly active users and have been downloaded over 500 million times. Shazam is integrated into iOS 8, which has dramatically increased the number of users.


Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u

4 Responses

  1. Remi Swierczek

    Shazam is worth $5 billion to a blind man with no hands and no legs under one condition:

    It will STOP to be the PIMP of music and become cashier of Radio and streaming converted to music store.

    Only Google beats Shazam in music prostitution. We can and we should change the rules NOW!
    Sad to say it but Google will be still the biggest winner of new era in music.

  2. Willis

    In the world of tech investment for music companies, nothing should surprise.

  3. so

    Shazam is an extremely useful tool but it is creating an echo chamber for major label releases. There is little discovery occurring outside of portals already owned / controlled by the majors, or those with deep pockets. If there is anywhere one can see the sources of Shazam inquiries, please let us know. But my guess is that the vast majority of “discovery” is coming from commercial radio, major motion pictures and network TV, on which few artists will ever make an appearance.

    • Remi Swierczek

      You are correct and that discovery from commercial Radio is converted by Shazam to full ownership from pirate sources. No money for Shazam for the service, just sporadic (one out of 40) sale at iTunes bringing some change for the industry. Shazam is one of the biggest cases of industrial kindergarden.