Shazam Raises $30M


Mobile audio recognition app Shazam has closed a $30 million investment, valuing the company at over $1 billion. The company says it has crossed 100 million monthly active mobile users, and the Shazam app has been downloaded over 500 million times; however the British firm is yet to make a profit in the 16 years it has been around.

Shazam declined to say who the investors this time around were. Previous investors in the company include Kleiner Perkins Caufield & Byers, Institutional Venture Partners, DN Capital, Acacia Capital Partners.

[Image courtesy: Shazam]

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