LONDON – January 20, 2015 – Shazam® today announced it has closed a $30 million investment valuing the company at over $1 billion. The funding will support Shazam’s continued evolution and rapid growth following a year of user milestones, increased service capabilities and expansion into new market sectors.
Andrew Fisher, Executive Chairman said, “This funding reflects the substantial progress we have made in delivering a new paradigm for brands and content owners to increase engagement with their audiences whilst magically connecting people to the world around them. We are delighted to welcome our new investors as we further strengthen our balance sheet and continue to effectively execute on our corporate strategy.”
Shazam enters 2015 with tremendous momentum:
- Crossed 100 million monthly active mobile users, placing the company in an elite echelon of only a handful of mobile brands
- Music identification capability is faster and more accurate than ever
- Added extensive music content, integrated with the world’s leading streaming music providers with the ability to play music within the Shazam app via Spotify and Rdio.
- Integrated into Apple’s iOS8 and Siri
- Shazam enabling TV shows and commercials, movie theaters, retail environments, radio content and ads and out of home advertising
- Announced new capabilities to Shazam using the camera for print ads, QR codes, packaged goods and barcodes
- Announced capabilities to recognize beacons
“We’re excited to continue to focus on user growth and engagement, building on our strength in music and innovating to increase the universe of what is Shazamable in order to realize the enormous potential of Shazam,” said Rich Riley, CEO, Shazam. “Our move into multiple new environments in 2014 has allowed our users to connect to more aspects of their world while enabling our partners and advertisers to reach our massive and engaged user base like never before.”
Shazam is one of the most popular apps of all time, used by hundreds of millions of people globally to connect to the world around them. Building on its pioneering leadership in music identification, Shazam now helps people discover, interact with, and share video, audio, or printed content on TV, radio, movie screens, magazines, newspapers, packaged goods, and retail stores -- and now Shazam lets music fans follow their favorite artists to see their Shazams and share in the thrill of discovery. The app has exceeded 20 billion total Shazams since its launch, and users Shazam over 20 million times each day. For more information on how Shazam has created new technology tools for brands to utilize data visit www.shazam.com