Early reports suggest the sale could be around $400 million although one source puts its closer to $1 billion. The app lets you identify any song, movie or a TV show from the audio playing around you.
It also integrates with other apps like Snapchat and Apple's Siri, and it now sends lots of traffic to other music apps like Spotify and Apple Music, which pays it when those clicks convert to purchases. Now after nearly nine years, Apple to Acquire Shazam for $400 Million. More recently Shazam has developed augmented reality technology that allows users to point their phones at a special label to see additional information.
Shazam has been popular for almost 19 years of operation, and has over 1 billion downloads.
It's also possible that Apple wants Shazam to integrate the app's offerings more deeply into its mobile operating system, in which case Shazam might disappear as a standalone app. The service is already integrated into Apple's Siri voice assistant, similar to the "What's this song" command in Google Now/Assistant.
Former Rep. Harold Ford Jr. fired for sexual misconduct
She also produced emails from Ford that ended with her asking him to stop contacting her and Ford apologizing and agreeing not to. The accuser was "not a Morgan Stanley employee but interacted with Ford in a professional capacity", according to the report.
The acquisition could be a smart move for both Shazam and Apple.
If Apple buys out Shazam, it could mean big things for the app.
Snapchat could also lose out if this deal goes through.
Earlier today, we reported that YouTube was gearing up to finally take a step into the streaming game with a new platform called Remix.
If Apple is considering making its very own Google Lens, then this would be a good step towards achieving the goal.