Shazam, a London, UK-based media engagement company famous for the app to discover, explore and share more music and television, received a $40m investment from Latin American telecommunications carrier America Movil (NYSE: AMX).
The company intends to use the funds to accelerate growth in music, to continue to expand into television and develop innovative new products.
The companies have also formalized a strategic business collaboration for the Americas.
Led by and CEO Rich Riley and Executive Chairman Andrew Fisher, Shazam is the creator of an app that allows users to share their music, TV shows and branded content with their friends on Facebook, on Twitter and Google+. Available for free on major platforms (iTunes App Store, Google play, Amazon App Store, AT&T’s AppCenter, Verizon VCast app store, Nokia Store, Windows Phone Marketplace, BlackBerry App World, and GetJar), Shazam has 350m users in 200 countries.
The company has more than 180 employees in London, New York, Menlo Park, Los Angeles, Chicago, Detroit, Sydney and Seoul.