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Shazam app gets $40 million from Mexican telecom

Shazam app: The Mexican telecom company America Movil invested $40 million in Shazam, creator of a song-identification application 


The Shazam company logo.
Shazam identifies songs based using a 10-second clip.

Shazam Website

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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.


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