Big late news this Friday evening. Apple is reportedly close to buying Shazam. According to Techcrunch, the deal could be signed as early as Monday and worth as much as $400 million, though another one of their sources just put the number in the nine figures, so we will see what that eventually shakes out to be.
$400 million is much lower than what Shazam was quoted to be worth in 2015 ($1 billion) when it had its last round of hedgefund funding. It eclipsed 1 billion users the last time it reported in September 2016, and that has likely risen, but maybe not as much as some had hoped.
Either way, this would be a massive buy for Apple and the music business. It isn’t totally clear how this would completely integrate into what Apple Music does, but there is talk of Augmented Reality (AR). Also Shazam sends people to Apple Music and other services when you identify a song, so this process could be streamlined towards Apple. They could use the service within Apple Music in some capacity, like creating software that can ID tracks within mixes well.