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Apple's $400 million purchase of Shazam: Lessons from a wounded unicorn

In a blog post, Marovac recalled some of Shazam’s incredible journey and milestones: “In 2009, Apple called us to ask: ‘Can you guys create an app over the weekend to be featured in the iTunes store?’ It turned out we could.

Rahul Powar, who was the lead engineer at the company at the time, created the Apple Shazam App, which was essentially very similar to the version in use today.

He added: “Nor should we forget that Shazam has grown into one of the U.K.’s most successful tech companies in terms of global reach — the app is on over a billion phones worldwide and is used by 500+ million people.

A 2014 story looking at Shazam’s emerging advertising efforts referred to its “near-profitless 12-year gallop.” Once upon a time, every entrepreneur believed that if they just got enough eyeballs, the ad dollars would follow.

Rather then trying to escape the gravitational pull of the tech giants like Apple, acquiescing and agreeing to be folded into their massive arms may be the best remaining option for these poor unicorns.

READ MORE (VentureBeat)

  • An early Shazam investor thinks the Apple deal is 'fantastic' — but that ...Markets Insider
  • Why Apple bought Shazam, the music-recognition app that's been declining in ...Washington Post
  • Apple snaps up Shazam in £300 MILLION deal and claims it has 'exciting plans
  • Apple Confirms Shazam Acquisition For An Undisclosed Amount: What Now?Tech Times
  • Apple, Shazam app $400 mn acquisition: What this means to the app that tells ...Financial Express
  • Apple to buy song recognition app
  • Apple Confirms Shazam AcquisitionI4U News
  • Apple pays $400m for song-recognition app
  • Candy musicKaplan Herald

This post first appeared on The 5th News, please read the originial post: here

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Apple's $400 million purchase of Shazam: Lessons from a wounded unicorn


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