Apple to buy music-recognition app Shazam

After rumors started swirling around a few days ago, Apple has confirmed to BuzzFeed News that it is indeed buying the music-recognition app Shazam. The acquisition price was not revealed, but is reportedly around $400 million. That’s a far cry from the Shazam valuation of $1 billion the company was claiming in its last round of fundraising (in 2015), but the world of streaming music services has evolved since then.

Apple spokesman Tom Neumayr made the following statement to BuzzFeed News:

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