America Movil has invested USD 40 million in media engagement company Shazam. The companies have also formalized a strategic business collaboration for the Americas, Shazam said. The investment aims to boost Shazam’s growth in music, expansion into television and the development of new products.
Since its last round of funding in 2011, Shazam reports that its user base has more than doubled to 350 million people around the globe. Also, the number of monthly active users has tripled to over 70 million as customers are increasingly using Shazam on their mobile devices to access music, TV and advertising services.
