Shazam app: The Mexican telecom company America Movil invested $40 million in Shazam, creator of a song-identification application
The Mexican telecommunications company America Movil has invested $40 million in Shazam, a company that received global attention for its song-recognition smartphone application.
In the Monday press release, Chief Executive Carlos Slim says he sees the investment as a way to help America Movil “differentiate its services in Latin America.” As of March 2013, America Movil has approximately 263 million wireless subscribers in the Americas.
“Shazam is defining a new category of media engagement which combines the power of mobile with traditional broadcast media and advertising,” Mr. Slim says in a press release on the Shazam website.