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One by one, the mobile song identifier just keeps hitting its targets – now it ranks as one of the most successful mobile content companies out there, and is thought likely to attempt a public offering at the end of 2010 or early 2011.
Shazam CEO Andrew Fisher last year told me his strategy was to hit 50 million users by 2009’s end (he did) and 100 million by the close of 2010. With this year not even half-way through, the company today announced it’s reached 75 million. (TechCrunch broke the embargo).
Next up? In October, Fisher told me: “Before now, I’d have said it’s not appropriate for a company the size of Shazam (to float). But for us now, given the size we’re at and the opportunity we see in front of us, once you exceed 100 million users, you are significant.” Also: “As we look to the future we absolutely think we have the size and the scale to launch a public offering.”
In its 2008/09 fiscal year, Shazam Entertainment Ltd made a £89,943 post-tax loss and a £133,462 operating loss on turnover of £7.3 million, thanks to £886,903 costs and £6.5 million expenses.
Shazam took an initial £11.5 million investment from Acacia Capital and DN Capital and a later round of an undisclosed size from Kleiner Perkins Caulfield and Byers.
It’s made a surprisingly good fist of limiting its free mobile app whilst introducing a paid-for app that has become the core product. It’s also adding more affiliate partnerships to the app and in January claimed to be referring a whopping 260,000 paying song customers every day to retail affiliates like iTunes Store.
— Shazam bobbled along for about eight years as a dial-up service.
— But an iPhone app helped it double its user base to 35 million in just seven months between September 2008 and May 2009.
— December 2009: Hit 50 million target.
— May 2010: Hit 75 million target.
— December 2010: Next stop: 100 million? IPO?