Apple might be about to acquire music identification app Shazam — for a song.
Multiple reports say Apple is in talks to buy Shazam. The asking price is reportedly about $400 million, well below the company's last valuation at $1 billion.
Shazam used to mainly make money off a commission on music purchases made via its discovery service. But the company has had to adapt to the rise of streaming services — including Apple's own Apple Music.
Apple might also value Shazam for its augmented reality platform, which it largely uses to build virtual ads in specific images. Apple's been taking a greater interest in AR in recent years, along with the rest of the tech industry.