APPLE ACQUIRES SHAZAM
Azini Capital sells its stake in Shazam
Apple has announced it has completed its acquisition of Shazam, one of the world’s most popular and highly-rated music apps, used by hundreds of millions of people worldwide.
“Apple and Shazam have a long history together. Shazam was one of the first apps available when we launched the App Store and has become a favourite app for music fans everywhere,” said Oliver Schusser, Apple’s vice president of Apple Music.
Shazam lets users identify songs simply by listening to the music playing around them. Shazam has been downloaded over 1 billion times around the world, and users identify songs using the Shazam app over 20 million times each day. With pioneering innovation in music identification, Shazam helps people discover, interact with and share video, audio or printed content across devices and mediums — and allows music fans to follow their favourite artists and share in the thrill of discovery.
Specialist direct secondary investor Azini secured its shareholding in Shazam through its acquisition in late 2008 of Lynx Capital Ventures, owned by Bear Stearns Capital Corp / JP Morgan. This exit is the last investment in the Lynx portfolio from which Azini has unlocked significant value for the original Lynx investors.