Apple’s Purchase of Shazam Under Formal EU Investigation
Mike Sanders / 9 months ago
Apple Purchase Shazam
In December 2017, Apple successfully purchased the popular music app Shazam. The app itself, which began in 1999 quickly became popular as to the ‘go-to’ program for identifying what song you were listening to.
Since then, however, in a report via the Guardian, an inquiry into the purchase has been launched based on requests from Sweden, Spain, France, Austria, Iceland, Italy and Norway.
Based on the numerous requests, a formal inquiry into the purchase has now been launched by the European Commission. The inquiry will have 35 days for initial enquiries and if enough evidence is found, a further 105 days to investigate further.
At this point, it is hard to say if any investigation will be successful, but it does at least put a dampener on the purchase by Apple.
What will happen?
It’s hard to say. Shazam was in itself a strange entity. Despite Apple purchasing it for a reported $400m, it didn’t actually make a lot of money. At least, not in relative terms. Such matters have seen the sale for $400m from a reported valuation in 2015 of $1b.
Personally, I didn’t have any issues with the purchase. There is, after all, plenty of Shazam alternatives and if anything, the purchase seemed to make a lot of business sense. We shall see what happens.
What do you think? Do you see any problems with the purchase? – Let us know in the comments!
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