Apple reportedly close to buying Shazam for about $400 million

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Although the speculation has Apple paying $400 million for the company, in its most recent round of funding in 2015, Shazam raised capital at a valuation of $1 billion.

A decade ago, Apple's iPhone helped make a music-tech star out of Shazam, the app that, nearly like magic, could identify a song just by hearing a few seconds of it.

Shazam Entertainment Limited was founded in 1999.

Apple and Shazam are yet to comment on the reports. (It did not make Apple's list of most popular apps for 2017.) The app also allows users to connect to iTunes to buy the tracks that were "Shazamed", as well as to streaming services such as Spotify and Google Play. Shazam has even ventured into augmented reality for brands.

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Since those early days, it's launched a number of related services. It could be a done deal or Apple could have called Shazam's people up yesterday.

TechCrunch is reporting that Apple is "close to acquiring Shazam", which is frustratingly vague. It can integrate with other apps like SNAPCHAT and APPLE's Siri, and it now sends considerable traffic to SPOTIFY and APPLE MUSIC, which pays it when those clicks convert to purchases.

Apple has made dozens of other acquisitions, and one of the biggest has been in the area of music: it acquired Beats for $3 billion in 2014, which became the basis for Apple Music. That's about half the 60 million paid subscribers that Spotify now enjoys. Shazam's features are also integrated with Apple's Siri voice assistant.

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