Carlos Slim's investment on Shazam last week, reportedly amounting to US$40 million, will result in a valuation of over US$400 million, said analysts. America Movil's backing of Shazam is said to be the only investment made by Carlos Slim on the United Kingdom market.

According to analysts, this newfound connection between the entrepreneur and the UK market will benefit the applications developer company.

Carlos Slim owns the large telecommunications empire America Movil. The partnership means that the Hammersmith-based company will be readily available and instantly preloaded to handsets that will be sold by America Movil in the upcoming months. This will result in a massive market expansion for Shazam. Analysts think this extreme exposure is worth more than Shazam's US$1 billion initial public offering that was halted due to Slim's backing.

"It's Latin America that's going to be the focus now, alongside North America and Western Europe," said Shazam's executive chairman Andrew Fisher.

"Part of this is about building a relationship with Carlos Slim's portfolio of companies," he explained.