Shazam announced that they were able to raise US$40 million for funding from America Movil.
Shazam is a music recognition app and platform.
America Movil is a telecommunication company headquartered in Mexico City, Mexico. They are the the largest wireless carrier in the Americas.
Shazam Executive Chairman Andrew Fisher told TechCrunch that Shazam went and did a presentation for Carlos Slim, head of America Movil, which later turned into an investment discussion.
Fisher said, "He (Slim) understands the opportunity of media engagement."
Shazam says that in 2012, the user base has more than doubled. The monthly active users for Shazam have tripled to over 70 million, with an estimated 2 million users joining per week.
Sales for digitals products via app are now at an estimated US$300 million a year which are made through affiliates like iTunes.
The new app for iPad includes a new feature, Auto-Tagging, which helps people to recognize and engage automatically in any media playing around them. This is the diving push for Shazam as it introduces the "two screen media" where people can use a tablet or a phone while watching TV.
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