Shazam Reports Revenues Up To £40.3 Million

Financials Rise

Music recognition company SHAZAM has reported £40.3 Million in revenues last year, "returning it to growth but raising questions about its billion-dollar valuation," reports U.K.'s THE GUARDIAN. It's a bounce back for SHAZAM, which had fallen from £36 Million to £35.2 Million the year before.

“We are very pleased with our 2016 performance, and we’re in great financial shape,” SHAZAM Executive Chairman ANDREW FISHER told THE GUARDIAN. “To be clear, we didn’t state we were profitable for the whole year, and our strategy is to continue to operate right at or around profitability while re-investing in key areas of our business such as product innovation, R&D, and human capital.”

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