Shazam Draws Investment, Is Already Profitable

This Boombox plays music

Shazam Entertainment, maker of the popular Shazam smartphone app, has received an undisclosed investment from Kleiner Perkins Caufield & Byers.

Shazam listens to music via your phone’s built-in microphone and identifies it for you, instantly providing information about the artist, as well as links to purchase the song or album from various online stores.

Shazam says it is profitable with over 50 million users. It makes money by taking a cut of the sales its generates, and through advertising.

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