Shazam Announces New Investment by Top-Tier Venture Capital Firms and Accelerated Grow
22/06/2013
London, UK - June 22, 2011 - Shazam, the worlds leading mobile discovery company, today announced that it has raised $32 million in new funding led by Kleiner Perkins Caufield & Byers (KPCB) and Institutional Venture Partners (IVP), with existing investor DN Capital participating. The investment will be used to support the companys continued growth and the development of Shazams real-time discovery and sharing App which creates an engaging, interactive mobile commerce platform for brands as it expands into television with Shazam for TV.
Shazam has experienced incredible growth over the last year and established itself as the ultimate mobile App for media discovery and interaction, said Matt Murphy, Partner at KPCB. The recent additions of Shazam Friends, synchronized lyrics in LyricPlay, and Shazam for TV are just the start to expanding the functionality of a magical technology.
With the 150 millionth Shazamer just around the corner, Shazam is on a trajectory to achieve 250 million users within two years and continues to dominate the mobile discovery market.
Over the last 12 months, Shazam has seen a 100% increase in the number of people downloading its mobile application each week, making it an integral part of their life, said Dennis Phelps, General Partner at IVP. With four million tags a day, Shazam is uniquely positioned to capitalize the increasing propensity of consumers to use their mobile devices for discovery, sharing and commerce.
This coveted reach is the reason leading networks such as NBCUniversal and MTV have worked with Shazam to incorporate Shazam for TV into their shows during the last year. With millions of consumers already accustomed to Shazaming for more information, networks and advertisers dont have to invest in establishing a new behavior to further engage with their audience. In fact, according to Google, 72% smartphone owners use their phone while consuming other media like watching TV. By creating Shazamable shows and commercials, networks and brands can give their viewers an unobtrusive second screen experience without interrupting what theyre watching. Additionally, Shazam works with these producers and advertisers to create a rich, interactive experience that gives viewers more information about the shows and products they love rather than just a simple check-in.
Music is still at the core of our DNA and will always remain fundamental to who we are. Our expansion into television is a natural evolution of our technology and we are excited to have delivered the same powerful discovery experience for broadcasting and advertising that people have always loved with music, said Andrew Fisher, CEO of Shazam. Our size and growth is unparalleled in the industry and gives our network and brand partners reach not available with anyone else. This investment will support our continued growth, both organically and through acquisition, as well as the ongoing development of new features and products, keeping us at the forefront of innovation.
Recently, Shazam released its latest enhancement to its premium applications with Shazam LyricPlay in Encore and (SHAZAM) RED on iOS, allowing music lovers to view lyrics synched in real-time to music. Creating a more personal, interactive experience, LyricPlay has multiple themed visualisations giving Shazamers a unique and innovative new way to see lyrics to songs they are tagging, so they can sing-along or just find out the words to the track. Previously, Shazam released Shazam Friends, which allows Shazamers to see a real-time feed of what their friends are tagging.
Shazam has more than 100 employees and is headquartered in London with offices in Palo Alto, New York, Los Angeles and Seoul. The Shazam App is available on iOS, Android, Java, BlackBerry, Windows, Symbian and all other major platforms and is available in more than 30 languages and 200 countries around the world.
For media enquiries: Email: PR@shazamteam.com
About Shazam Entertainment
For further information about Shazam Entertainment visit www.shazam.com and @ShazamNews or follow us on Facebook. For daily music updates follow the Shazam Blog www.shazamers.com and @Shazam
About Kleiner Perkins Caufield & Byers
Since its founding in 1972, Kleiner Perkins Caufield & Byers has backed entrepreneurs in over 500 ventures, including AOL, Amazon, Citrix, Compaq, Electronic Arts, Genentech, Google, Intuit, Juniper Networks, Netscape, Sun, Symantec, Verisign and Zynga. KPCB portfolio companies employ more than 250,000 people. More than 150 of the firms portfolio companies have gone public. Many other ventures have achieved success through mergers and acquisitions.
About Institutional Venture Partners (IVP)
With $3 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. The partnership is currently investing IVP XIII, a $750 million later-stage fund focused on investments in rapidly growing media and technology companies. Founded in 1980, IVP has invested in over 300 companies, 86 of which have gone public. IVP has a 30 year IRR of 43.2% and is one of the top performing firms in the industry. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions and select public market investments. Since its inception, IVP investments include such notable companies as ArcSight (HPQ), Aspect Communications, ComScore (SCOR), Concur Technologies (CNQR), Danger (MSFT), Digital River (DRIV), HomeAway, Juniper Networks (JNPR), Kayak, LegalZoom, LivingSocial, MySQL (ORCL), Netflix (NFLX), Polycom (PLCM), Seagate (STX), Synchronoss (SNCR), Tivo (TIVO), Twitter and Zynga. For more information, visit http://www.ivp.com or follow IVP on Twitter: http://twitter.c
LINK: | http://www.ivp.com/news/press-release/shazam-announces-new-investment-... |
See more stories from ivp |
Most recent headlines
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
14/05/2024
Gary Heelas Joins TSL as Principal Engineer
LOS ANGELES Gary Heelas has joined TSL as principal engineer in the company's U.S. office, the company announced....
14/05/2024
Gray Television Inks AAPB Deal for Summer Baseball
ATLANTA Gray Television Inc. has announced an agreement to bring select American Association of Professional Baseball (AAPB) games to free, over-the-air local t...
14/05/2024
Adsmovil Expands Nuestra.TV Distribution
MIAMI, Fla. Adsmovil has expanded access to its free, ad-supported, streaming TV service, Nuestra.TV to include Apple TV, Android TV, Smart TVs, Android media p...
14/05/2024
Roku Lands Exclusive Rights to Package of MLB Games
SAN JOSE, Calif. In another important example of how high-profile sports rights are shifting to streaming, Roku has secured the exclusive multi-year rights for ...
14/05/2024
Arkona Presents a Sneak Peek into the Future of Live Prod...
arkona technologies GmbH, provider of IP core infrastructure solutions for Tier-1 broadcast productions, has announced that it will be supporting its growing gl...
14/05/2024
TAG Teams with Techex at MPTS to Demonstrate Best-of-Bree...
TAG Video Systems, the leader in software-based IP end-to-end workflow monitoring, deep probing, and real-time visualization, has revealed highlights of its MPT...
14/05/2024
Blaze Audio Acquires Cornered Audios Commercial Install L...
Blaze Audio, a Copenhagen-based global leader specialising in pro audio solutions tailored for the installed sound market, has today announced it has acquired t...
14/05/2024
GBICS Offers Exclusive Free Bespoke Samples at MPTS 2024
GBICS, a pioneer in multi-vendor optical networking solutions, announces its presence at the upcoming Media Production and Technology Show (MPTS), happening on ...
14/05/2024
Glensound brings the latest in IP audio to CABSAT 2024
Glensound, industry leader in high quality audio systems, is showcasing the latest additions to its extensive portfolio of networked audio products at CABSAT. A...
14/05/2024
Marshall Cameras Deliver Efficient and Innovative Hybrid...
S&L Integrated Systems, a leader in audio-visual technology solutions, has recently transformed courtroom experiences throughout Georgia and the surrounding reg...
14/05/2024
Broadcast Bionics showcases the future of podcast technol...
Visit UK software company Broadcast Bionics in London this May at the Media Production & Technology Show (MPTS), Olympia London on Wednesday 15th and Thursday 1...
14/05/2024
Miami-Based DJ Creates Unique Mixes in His Studio With KR
Miami-based DJ, Music Producer, and Music Business Entrepreneur Christian Tian Jimenez has always enjoyed making music. From producing and mastering in his ho...
14/05/2024
Rohde and Schwarz showcases operational efficiency at MPT...
Rohde & Schwarz will showcase its media technologies portfolio at the Media Production & Technology Show (stand M40, MPTS, London, 15 16 May) and demonstrate ...
14/05/2024
International OB provider DVB Production in Slovenia is f...
DVB Production, a major supplier of outside broadcast (OB) services in Slovenia and Central Europe, has integrated Calrec's all-IP Argo S audio console and ...
14/05/2024
Custom Consoles Announces Latest-Generation M-Desk Techni...
Custom Consoles will highlight major refinements to its M-Desk Technical HA heavy duty height-adjustable desk workstation on stand J26 at The Media Production &...
14/05/2024
Leader to Highlight Latest Test and Measurement Innovatio...
Leader Electronics Corporation, globally active innovator of broadcast-quality test and measurement instrumentation, will highlight three latest-generation test...
14/05/2024
IBC2024 Primed to Lead Innovation Explore Trends and Fost...
IBC2024 is now open for registration, with the global media and entertainment (M&E) industry set to converge on the RAI Amsterdam on 13-16 September. The event ...
14/05/2024
Vidzemes TV Latvia Expands with PlayBox Neo Channel-in-a-...
Latvian free-to-air broadcaster Vidzemes TV has chosen PlayBox Neo Channel-in-a-Box playout to expand the technical facilities at its studio headquarters in Val...
14/05/2024
Avid Presents - Meet the Sound Team Behind True Detective: Night Country
Avid Presents - Meet the Sound Team Behind True Detective: Night Country Brie Clayton May 13, 2024 0 Comments There's nothing quite like the sound...
14/05/2024
Rethinking Media Archiving with Object Storage
Rethinking Media Archiving with Object Storage Brie Clayton May 13, 2024 0 Comments Media producers today need to maintain online access to all conten...
14/05/2024
Liquid Morphing Motion in After Effects
Liquid Morphing Motion in After Effects Graham Quince May 13, 2024 0 Comments I'm not too sure if it is liquid motion but it's probably the b...
14/05/2024
Why APSC Lenses Might Be All You Need
Why APSC Lenses Might Be All You Need Sean Alami May 13, 2024 0 Comments Exploring the big impact of small sensors: Dive into how APSC lenses offer ci...
14/05/2024
Intelligent Video Effects with Film Impact in Adobe Premiere Pro Transitions
Intelligent Video Effects with Film Impact in Adobe Premiere Pro Transitions Colin Smith May 13, 2024 0 Comments This tutorial is part 2 of a detail...
14/05/2024
Shawne Merriman Turns on Lights Out Sports Streamer
Former NFL linebacker Shawne Merriman has soft-launched Lights Out Sports, a free ad-supported sports streaming service....
14/05/2024
Stars Are Back for Upfronts, More Dollars May Follow as Well
Television companies expect this year's upfront to be stronger than last year's....
13/05/2024
Entry opens for EU Award for Investigative Journalism 2024
Journalists from the Western Balkans and T rkiye can now submit their investigative stories published in 2023 for the EU Award for Investigative Journalism 2024...
13/05/2024
Sundance Film Festival: London 2024 Announces Repertory Shorts Programme, Three Repertory Features And Three Public Talks
Tickets on sale now London, 13 May 2024 - Today Picturehouse and the nonprofit ...
13/05/2024
In Their Own Words: Audiobooks To Explore During Asian and Pacific Islander Heritage Month
May is Asian and Pacific Islander Heritage Month (APIHM), a time to reflect and ...
13/05/2024
Eurovision 2024: Swiss Singer Nemo Took the Crown, but There's More Talent To Celebrate
From C line Dion to ABBA, the Eurovision Song Contest has served as a launchpad ...
13/05/2024
Eurovision delivers strong Total TV audiences for SBS, with more than 2.2 million Australians tuning in
Eurovision delivers strong Total TV audiences for SBS, with more than 2.2 millio...
13/05/2024
L3Harris and Azerbaijan Airlines Advancing Pilot Training Capabilities in the Caspian Sea Region with Cutting-Edge Boeing 787-9 Full Flight Simulator
L3Harris is pleased to announce that it has secured a contract with Azerbaijan A...
13/05/2024
PBS Stations to Gain Access to Nielsen Local Dashboards
ARLINGTON, Va. PBS has received a significant grant from the Corporation for Public Broadcasting (CPB) to provide PBS Member Stations with Nielsen Local Dashboa...
13/05/2024
IBC2024 Now Open for Registration, Adds New AI Tech Zone
LONDON IBC2024, the broadcast industry's second largest international trade show, is now open for registration. Organizers said exhibition space reservation...
13/05/2024
CNBC: Sinclair Considering Selling Some Broadcast Stations
Sinclair Broadcast Group is reportedly considering selling more than 30% of its broadcast stations according to CNBC....
13/05/2024
Three New Shows on NBC's Fall Schedule
NBC has shared its fall schedule, with three new series set to premiere: Drama Brilliant Minds, with Zachary Quinto; comedy St. Denis Medical, with Wendi McLend...
13/05/2024
Animated Show Housebroken' Will Not Return on Fox
Animated comedy Housebroken will not see season three on Fox. The network said it was pleased with the show's creative, but viewer response wasn't stron...
13/05/2024
Tributes Flow for KTLA Entertainment Reporter Sam Rubin, Dead at 64
Tributes flowed in Hollywood today after KTLA in Los Angeles reported that longtime morning-news entertainment reporter, Sam Rubin, had died Friday at age 64....
13/05/2024
CBS Sports to Use 5G-Connected Cameras to Cover PGA Championship
T-Mobile announced today that it is deploying its 5G Advanced Network Solutions (ANS) to enhance the fan experience as well as CBS Sports' live coverage of ...
13/05/2024
The Film and TV Charity launches fund for Black and Global Majority professionals
Funding will be awarded in three rounds over two years, with applications for th...
13/05/2024
IBC2024 opens for registration and announces new AI tech zone
This years show features an expanded venue including a new AI tech Zone and a second Content Everywhere area By Matthew Corrigan Published: May 13, 2024 T...
13/05/2024
David Loving Named KHOU-KTBU Houston General Manager
David Loving srtarts as president and general manager of KHOU-KTBU Houston May 20. He comes from WOI-KCWI Des Moines, where he was the general manager. Both duo...
13/05/2024
Rick Sallinger, KCNC Denver Reporter, Has Died
Rick Sallinger, KCNC Denver reporter, died of natural causes May 9 in the Denver area. He was 74....
13/05/2024
ABC Renews Idol,' Shark Tank,' Dancing With the Stars,' Others
In advance of its upfront presentation, ABC has renewed American Idol for season eight, The Bachelor for season 29, Celebrity Jeopardy! for season three, Celebr...
13/05/2024
Gordon Ramsay, Fox Launch Bite Food Entertainment Platform
Fox Entertainment and Gordon Ramsay said they have launched Bite, a food brand and entertainment business featuring digital content, live events and consumer pr...
13/05/2024
Doctor Who' Showrunner on What New Doctor Brings to Show
The 15th Doctor in Doctor Who history steps onstage with the show debuting on Disney Plus May 10. It is Ncuti Gatwa, who played Eric Effiong in Sex Education. H...
13/05/2024
Drug Discovery, STAT! NVIDIA, Recursion Speed Pharma R&D With AI Supercomputer
Described as the largest system in the pharmaceutical industry, BioHive-2 at the Salt Lake City headquarters of Recursion debuts today at No. 35, up more than 1...
13/05/2024
SVG Sit-Down: Blackmagic Design's Dan May Explores Addition of Instant-Replay to Davinci Resolve Solution
SVG Sit-Down: Blackmagic Design's Dan May Explores Addition of Instant-Repla...
13/05/2024
For PWHL, Raycom, and Dome, Production of the League's First Season Is More Than Just Covering a Sport
For PWHL, Raycom, and Dome, Production of the League's First Season Is More ...