Shazam has announced that the company is now worth $1 billion, the news comes as the company receives a new $30 million investment on a valuation of $1 billion.
The company will be using the money to expand their service, as yet they have not made any profit, it will be interesting to see if this changes in 2015.
We’re excited to continue to focus on user growth and engagement, building on our strength in music and innovating to increase the universe of what is Shazamable in order to realize the enormous potential of Shazam,” said Rich Riley, CEO, Shazam. “Our move into multiple new environments in 2014 has allowed our users to connect to more aspects of their world while enabling our partners and advertisers to reach our massive and engaged user base like never before.”
It will be interesting to see how the service is developed this year, you can find out more details at the link below.
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