Investors value Shazam at $ 1 billion
Earlier this week, London-based startup Shazam announced the closure of a $ 30 million investment round, with a total business valuation of $ 1 billion. The names of investors are not disclosed, it is noted only that none of them participated in previous rounds.
For the eight years that the project has existed, Shazam has raised a total of $ 125 million in investment with minimal revenue and no profit. In an interview with the Wall Street Journal, CEO Rich Riley said that they "deliberately do not make a profit" because of high domestic investment in technology and personnel.
In 2013, Shazam generated a net loss of $ 3 million in revenue of $ 46 million. In March 2014, the company raised $ 20 million, with a business valuation of $ 500 million.
The main way to monetize Shazam is to charge for the purchase of tracks that users “recognize” using the service, as well as advertising in the application. In August 2014, more than 100 million users per month were reported, with a 34% increase from the previous year.
For the eight years that the project has existed, Shazam has raised a total of $ 125 million in investment with minimal revenue and no profit. In an interview with the Wall Street Journal, CEO Rich Riley said that they "deliberately do not make a profit" because of high domestic investment in technology and personnel.
In 2013, Shazam generated a net loss of $ 3 million in revenue of $ 46 million. In March 2014, the company raised $ 20 million, with a business valuation of $ 500 million.
The main way to monetize Shazam is to charge for the purchase of tracks that users “recognize” using the service, as well as advertising in the application. In August 2014, more than 100 million users per month were reported, with a 34% increase from the previous year.
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Source: https://habr.com/ru/post/283604/
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