Since the launch of a music application called ‘Shazam’ in 2002, updating ones music knowledge has become just a touch away. Shazam not only identifies the name and artists of the songs being played but also tells us what music is trending where. With 100 million active users per month, this app has taken things to a whole new level that it is now being valued at $1 Billion.
Thanks to their latest round of funding, Shazam raised $30 Million making it possible for it to hit the ‘big billion’. This money will be directed towards working on new technology which will keep the freshness of the app intact as well as for penetrating new markets. Having signed a $40 Mil. deal in 2013 with billionaire Carlos Slim to pre-load the app on certain Latin American phones, Shazam is prepared to take up any such challenges in the future. With plans of integrating the application’s capabilities to screens at concert venues and shopping malls and strengthening their location based market tools, Shazam is all set to take the market by a storm.
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