Apple is reportedly in the process of acquiring Shazam
It's being reported that Apple is in the process of acquiring media recognition app Shazam. According to Tech Crunch, the deal is worth $400 million, which is quite cheaper than the $1.2 billion valuation Shazam announced in 2015. If the deal goes through, it will be the company's biggest acquisition since purchasing Beats in 2014.
Launched in 1999, the app allows users to identify songs, TV shows, movies and advertisements by pointing their phones at an audio source. Recently, the company launched "Brands for Shazam," which uses developed augmented reality technology that allows users to point their phones at a special label to see additional information. Through this, it has partnered with top notch brands such as Bombay Saphire, Coca-Cola, Sprite, and Coors Light.
It's unknown how Apple will utilize the capabilities of Shazam if it is successful in acquiring it. It will have plenty of options though. One way it could utilize Shazam is by using its technology to strengthen Apple Music by allowing users to use it to find new songs and add them to playlists.
How do you think Apple will utilize Shazam? Let me know in the comments below or via Twitter.
In other technology news, YouTube is launching a new paid streaming service in 2018.
SOURCE: Tech Crunch