Shazam has received an £26.8m investment from telecommunications firm America Movil to fund its business growth and expansion in the Americas.
America Movil is the largest business of its type in the territory with the two companies forming a strategic collaboration to help accelerate Shazam’s development in the region as well as with new products.
Carlos Slim, chief executive and chairman of America Movil, said: ‘Shazam is defining a new category of media engagement which combines the power of mobile with traditional broadcast media and advertising to create compelling value added experiences for consumers, content providers and brands.
‘We are excited to bring this innovation to America Movil subscribers as we continue to further differentiate our services as the market leader in Latin America.’
Shazam has seen great growth since its last round of funding in 2011.
Shazam’s user base has now more than double to 350 million people across the globe while the number of monthly active users has tripled to over 70 million.
The last year has also seen the business update the design and speed of its app for both iOS and Android.
America Movil is the largest business of its type in the territory with the two companies forming a strategic collaboration to help accelerate Shazam’s development in the region as well as with new products.
Carlos Slim, chief executive and chairman of America Movil, said: ‘Shazam is defining a new category of media engagement which combines the power of mobile with traditional broadcast media and advertising to create compelling value added experiences for consumers, content providers and brands.
‘We are excited to bring this innovation to America Movil subscribers as we continue to further differentiate our services as the market leader in Latin America.’
Shazam has seen great growth since its last round of funding in 2011.
Shazam’s user base has now more than double to 350 million people across the globe while the number of monthly active users has tripled to over 70 million.
The last year has also seen the business update the design and speed of its app for both iOS and Android.
