In the year following the launch of Apple’s App Store in July 2008, music recognition service Shazam increased its turnover by nearly 60% to £7.3 million, and cut its loss after taxation to just under £90,000. That’s according to the company’s official accounts for the financial year ending on 30 June 2009, which were filed to Companies House in the UK on 25 March this year. The accounts also reveal more details on the investment Shazam took from VC firm Kleiner Perkins Caufield and Byers in October 2009. The investment from its iFund subscribed for “217,237,129 Preferred Ordinary C1 Shares for consideration of circa £3 million”.
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