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Shazam has confirmed a new funding round of $20m that gives that music recognition company a $500m valuation. It has raised $120m to date in funding and this latest round has been rumoured for around a month but it is only now the company is making it official. It has been a busy few months for the company with the introduction of its Auto Shazam feature (where the app constantly tags tracks in the background) and its recent partnership with Warner Music where it will provide data to the label on tagging trends around emerging acts with a view towards them being signed to a Shazam-branded label deal.

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