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Apple Might Be About To Buy Shazam

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Apple Might Be About To Buy Shazam
Apple is reportedly about to acquire music discovery service Shazam, which has recently branched out into augmented reality.
SHOW TRANSCRIPT

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.