Sony Music Entertainment, a unit of Sony Corp, has invested $3 million in music-recognition application maker Shazam Entertainment, a source familiar with the matter said.
Breaking News
London, UK-based music identification app Shazam confirmed the previously rumored $20-million financing from undisclosed investors, which will probably fund the firm's expansion and advertising efforts.
Shazam, a London-based music and television tagging service, is rumored to be raising a $20 million funding round, a VentureBeat report said citing a Re/code report.
Carlos Slim Helu invested US$40 million in a mobile audio app company to compete against Apple's Siri and Google voice search.
Y&R together with UP formed a partnership with Shazam to enhance the mobile activation of advertising.
Due to Carlos Slim's mega investment, analysts believe that app developer Shazam will gain access to millions of Latin American customers.
Shazam announced that they were able to secure a US$40 million funding from America Mobil
Smartphone app developer Shazam received US$40 million worth of investment from billionaire Carlos Slim.
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