As Spotify continues to inch towards a public listing, Apple is
making a move of its own to step up its game in music services.
Sources tell us that the company is close to acquiring Shazam, the
popular app that lets people identify any song, TV show, film or
advert in seconds, by listening to an audio clip or (in the case
of, say, an ad) a visual fragment, and then takes you to content
relevant to that search.
We have heard that the deal is being signed this week, and will be
announced on Monday, although that could always change.
One source describes the deal as in the nine figures; another puts
it at around £300 million ($401 million). We are still asking
around. Notably, though, both of the numbers we’ve heard are lower
than the $1.02 billion (according to PitchBook) post-money
valuation the company had in its last funding round, in 2015.