Apple in talks to acquire music identification app Shazam

Shazam!
Apple
May
Acquire
the
Popular
Music
Recognition
Service

According to many sources, the official announcement of the sale will take place this upcoming Monday, confirming their partnership.

It's not clear what will happen to Shazam's existing deals with Spotify, which competes with Apple's music-streaming service, or Snapchat, which has integrated Shazam into its camera screen. If the deal is real, Shazam would be the highest-profile Apple acquisition since it bought Beats in 2014.

Apple has more cash on hand than any other company on the planet, and some of that cash may go towards acquiring Shazam. Shazam announced past year that it had reached one billion downloads on smartphones. Users can scan Shazam codes, or QR codes, to launch 3D animations, product visualizations, mini-games and 360-degree videos. Sources also say that Apple was the most significant paying advertise for Shazam in the year 2016. Notably, though, the numbers we've heard are lower than the $1.02 billion (according to PitchBook) post-money valuation the company had in its last funding round, in 2015.

Saakashvili: Ex-Georgia leader detained by police in Kiev
Saakashvili was stripped of his Ukrainian citizenship by Poroshenko in July while overseas and is now stateless. The president, his former patron, rescinded his Ukrainian citizenship in July while he was out of the country.

Reports of Apple's interest in Shazam surfaced on the same day that Apple announced that longtime executive Jony Ive will resume day-to-day management of the company's design team.

If you're not familiar with the app, it uses your phone's microphone to listen to music now playing, and give you information about it (and links to buy it). Apple's AI uses Shazam to identify it. The users can also follow their favorite artists on Shazam. Earlier in September, they reported $54 million in revenue from fiscal 2016 with a loss of $5.3 million pre-tax. "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".

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