Ingrid Lunden and Katie Roof for TechCrunch:
As Spotify continues to inch towards a public listing, Apple is making a move of its own to step up its game in music services. Sources tell us that the company is close to acquiring Shazam, the popular app that lets people identify any song, TV show, film or advert in seconds, by listening to an audio clip or (in the case of, say, an ad) a visual fragment, and then takes you to content relevant to that search.
We have heard that the deal is being signed this week, and will be announced on Monday, although that could always change.
One source describes the deal as in the nine figures; another puts it at around £300 million ($401 million). We are still asking around. 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.
Obvious Apple Music and Siri benefits aside, Apple must be really impressed with Shazam’s underlying technology to make this purchase. I’ve never seen anyone use Shazam on a TV show or in any capacity other than identifying music, but there could be some real benefits to tried and tested audio recognition down the line (e.g. AR, advanced Siri functions, HomePod).