U.S. tech giant Apple is reportedly buying London based music recognition app Shazam for $400m (£300 million), well below its most recent valuation. According to reports, the deal is worth US$400 million. About 120 million people have paid to stream or buy music, compared with Spotify's 60 million paid users. It launched its own music and video streaming service, Apple Music, two years ago to compete with the likes of Spotify and Pandora. "We have exciting plans in store, and we look forward to combining with Shazam upon approval of today's agreement".
Users of Apple's iPhone with the Shazam app installed can say: 'Hey Siri, what's that song?' and the app will identify it.
"Apple just doesn't have the same amount of data about listening tastes as Spotify, meaning it can't drive recommendations with as high a degree of accuracy and precision". It would seem the acquisition could help Apple build on it's ARKit for developers which it announced in June of this year. Let us know in the comments.
Moreover, it does this without requiring an active internet connection thanks to it periodically updating an on-device database of tens of thousands of tracks, and carrying out the whole song-matching process on the phone.
EU, Japan and USA seek to level global trade playing field
Participating in a session on food, the minister underlined the need for promoting food and nutrition security for India's vast population.
The technology allows Shazamable products to be scanned, directing users to more content provided by those companies.
The app's stagnation has little to do with its UX or underlying tech: the original audio detection algorithm, devised by Shazam founder and chief scientist Avery Wang, is well-respected in academia and has been cited over 650 times on Google Scholar. Apple and Shazam declined to comment on what will happen to these partnerships once the deal closes.
It may be this augmented reality feature that finally grabbed Apple's interest.
He has repeatedly called AR more "profound" than virtual reality, which limits users to computer-generated views. Shazam's employees can provide a much-needed boost to Apple's effort to catch up with its rivals, all while providing a short-term bump to Apple Music.