January 21, 2015 at 17:51Investors valued Shazam at $ 1 billion
Earlier this week, London-based startup Shazam announced the closure of a $ 30 million investment round with a total business valuation of $ 1 billion. Names of investors are not disclosed, it is only noted that none of them participated in previous rounds.
In the 8 years the project has existed, Shazam has raised a total of $ 125 million investment with minimal revenue and no return. In an interview with the Wall Street Journal, company CEO Rich Riley said that they “deliberately do not make a profit” because of the high domestic investment in technology and personnel.
In 2013, Shazam generated a $ 3 million net loss on revenue of $ 46 million. In March 2014, the company raised $ 20 million in a business valuation of $ 500 million.
The main method of Shazam monetization is the commission when buying tracks that users "recognize" using the service, as well as advertising in the application. In August 2014, more than 100 million users were reported per month, with a 34% increase over the previous year.
In the 8 years the project has existed, Shazam has raised a total of $ 125 million investment with minimal revenue and no return. In an interview with the Wall Street Journal, company CEO Rich Riley said that they “deliberately do not make a profit” because of the high domestic investment in technology and personnel.
In 2013, Shazam generated a $ 3 million net loss on revenue of $ 46 million. In March 2014, the company raised $ 20 million in a business valuation of $ 500 million.
The main method of Shazam monetization is the commission when buying tracks that users "recognize" using the service, as well as advertising in the application. In August 2014, more than 100 million users were reported per month, with a 34% increase over the previous year.
Only registered users can participate in the survey. Please come in.
Do you use Shazam?
- 51.2% Yes 146
- 48.7% No 139