Shazam tops 50m users and takes new investment
Mobile music discovery service Shazam has announced that it now has more than 50 million users, with 10 million of those having downloaded its iPhone app.
Meanwhile, the company has taken new investment from VC firm Kleiner Perkins Caufield & Byers, which runs the $100 million iFund to invest in iPhone-related startups.
KPCB partner Matt Murphy says Shazam will now add more recommendation and sharing features, as well as video content, and ticket and merchandise sales. “I think they’re going to be one of the companies that shows the way to building a really large business around this ecosystem,” he says.
CEO Andrew Fisher says Shazam is now profitable, which represents continued progress given it lost £2.53 million in the year to June 2007, and £1.33 million in the year to June 2008.
October 14th, 2009 at 12:09 pm
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