Apple can buy Shazam music app for $ 400 million


Apple can buy Shazam music app for $ 400 million:

According to TechCrunch and Recode websites, Apple the giant company is now closing the Shazam music service for about $ 400 million deal with fruition.

According to The Wall Street Journal, Company can save on commissions paid to Shazam, and whose targeting for services like the iTunes Store accounted for 10 percent of digital music sales in 2016, Also, it’s worth mentioning that Shazam has launched an Enterprise-Augmented Reality (AR) platform, which will be useful if Apple wants to create its own version of Google Lens, for example.

Although till now this app has already more than 1 billion downloads, Shazam recorded revenue of 54 million dollars in 2016, with an estimated loss of $ 5.3 million.

Shazam is a British app development company that created an app which is used to identify music, movies, advertising, and television shows, based on a short sample played and using the microphone on the device.  On December 11, 2017, the company was bought by Apple the software is available for macOS, iOS, watchOS and tvOS. Shazam Entertainment founded by Chris Barton, Philip Inghelbrecht, Avery Wang, and Dhiraj Mukherjee in 1999.

The year of Shazam was one of the top ten most popular apps in the world. The year of 2014, the Shazam app had more than 100 million monthly active users and had been used on more than 500 million mobile devices by the users.

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