Shazam is rumored to be raising $20 million with a $500 million valuation. Shazam is an app that is used for identifying songs, commercials, and TV shows by “listening” to them through a microphone built into mobile devices.
The music identification app now has around 88 million monthly active users. Shazam recently revamped a version of their iPhone app with real-time lyrics and quick access to a song’s music video.
Shazam also makes it easier to buy and stream content using Rdio and Spotify. Shazam has raised $72 million in funding thus far.