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Shazam Raises $30M At $1B Valuation

  • The Verge, Wednesday, January 21, 2015 11:12 AM
Song-naming service Shazam just raised another $30 million a new valuation of $1 billion. “Over the past eight years, Shazam has raised $125 million in equity funding as revenue has soared, though it has not made a profit over that period,” The Verge reports. But, that’s not because Shazam has lacked a monetization strategy. As The Verge notes: “The company earns commissions on purchased songs that users discover using its service, as well as advertisements in its app.”

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