The milestone signifies just how popular the music discovery service has become which is now live in more than 150 countries.
Shazam is also announcing a strategic investment from Kleiner Perkins Caufield and Byers, which has an unparalleled track record in assisting digital consumer businesses such as Google and Amazon to become market leading global enterprises.
“This milestone and the backing of KPCB is a testament to both the success and enormous potential of Shazam,” said Andrew Fisher, CEO of Shazam. “Not only are significantly more people around the world accessing the service every day, they are using it with increased frequency, discovering and acquiring new music and sharing their discoveries with friends all from their mobile phones. Shazam is profitable and experiencing sustained acceleration in its growth rate. We are delighted to be partnering with KPCB, who join our existing investors Acacia Capital and DN Capital and will help us execute against the significant market opportunity ahead."
Said Matt Murphy who led the investment for Kleiner Perkins and manages the iFund: “We’re delighted to be leading this round of financing for Shazam. Their iconic application is among the most popular and sticky in the mobile industry. We’ve met hundreds of companies and received thousands of mobile app business plans, but none have distinguished themselves on par with Shazam. We’re still in the early days of the mobile application phenomenon and Shazam’s leadership in the massive mobile entertainment and discovery category, positions them to be at the forefront as it evolves.”
Shazam takes users on a truly unique and enhanced music journey that starts by simply holding a mobile device towards a song as it is playing. The company has seen explosive growth since launching on the iPhone 3G in the summer of 2008 with its application being downloaded more than 10 million times on the iPhone App Store as well as being amongst the highest downloaded applications on BlackBerry App World, Nokia’s Ovi Store and Google’s Android Market. In all cases, Shazam is consistently rated among the most popular applications on each respective platform.