A decade ago, Apple's iPhone helped make a music-tech star out of Shazam, the app that, nearly like magic, could identify a song just by hearing a few seconds of it. Later that year, it arrived on Android, and it has continued to maintain a strong userbase.
Apple is finalizing a deal to acquire Shazam, the app that lets you identify songs, movies, and TV shows from an audio clip, according to TechCrunch.
The Shazam app has been downloaded over 1 billion times.
The acquisition would help Apple embed that capability more deeply into its music offerings, which include a music-streaming service and the iTunes Store.
Or, as my colleague Harry McCracken points out, the Shazam technology could give the iPhone something similar to the Google Pixel 2's automatic Shazam-like song identification that doesn't even require the phone's display to be on.
The Shazam app allows users to identify the music that's playing nearby, such as a song in a restaurant or cafe.
TechCrunch earlier reported the takeover, adding that it could value Shazam at about £300 million ($404 million).
Shazam generated about $US54 million in revenue in 2016. The users can also follow their favorite artists on Shazam. If Apple willed in saying that it wants its own version of Google Lens, then that might be a good place to begin. Users can scan Shazam codes, or QR codes, to launch 3D animations, product visualizations, mini-games and 360-degree videos. According to the most recent round of funding in 2015, Shazam raised capital at a valuation of $1 billion. "And, of course, with Apple's war chest, it can afford to make bets that may pay off in a big way or may not matter much in the long run". Last year, they only made $54 million and lost $5.3 million.