Shazam Raising Additional Funds From Kleiner Perkins iFund
Shazam started in 2002 as a mobile music discovery company. The company first gained an immense amount of popularity when launching an iPhone application. The Shazam application has been downloaded about 50 million times on the iPhone, Google Android, Symbian, BlackBerry, etc. Shazam has a database of over 8 million songs on their database which goes back to the 1950’s. Shazam is a private company that is based in London, England.
When you hear a song on the radio or on your laptop, you can Tag it using the Shazam application. Shazam will tell you the name of the song, give you a link to buy the music on Amazon or iTunes, and allow you to tweet what you are listening to.
The latest news with the company is that Kleiner Perkins Caufield & Byers has invested in them. Kleiner Perkins made the investment through their iFund financial arm which is intended for iPhone application developers. Shazam previously raised $12.3 million in funding from DN Capital and Acacia Capital.
Shazam is planning to launch a service that will connect with concert tickets for artists that have been tagged by the app. So far Shazam has been cash-flow positive.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry