Shazam taking a look at expanding app beyond music
Shazam’s chief executive Rich Riley announced during MWC 2015 that the company is ready to “expand the universe of what you can Shazam.” The statement refers to plans by the company to add the ability to scan physical objects and provide users with additional information. For example, a user could use their smartphone to “Shazam” a cereal box at the store and get additional nutritional information.
To make this happen, Shazam secured new investments of $30 million from “several unidentified billionaires and financial institutions in January.” With these new funds, Shazam plans to hire new employees and enter into new partnerships with publishers and content producers.
Despite being around for a relatively long time and consistently one of the most popular apps with users, Shazam has remained a private company. According Riley this gives the company more flexibility when raising funds like this most recent round.
No timeline was disclosed as to the release of this new feature for Shazam.
source: Reuters
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