Shazam, mostly known for its music discovery app, has hired Rich Riley as its new CEO as it prepares to go public...
Shazam, which now has more than 300 million users in 200+ countries, became known to U.S. consumers in the early days of iOS as the go-to music discovery and identification app. However, the technology behind the function was in fact far older.
After the smartphone boom and its successful multiplatform app - alongside a slew of partnerships with international companies like Entertainment UK and the Indian streaming service Saavn - Shazam was able to branch out and secure further funding. In 2011, it launched its TV app, the backbone of which is its advertising arm generating revenue in the "double-digit millions" for the company.
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