Shazam raises $32m in new investment, approaches 150m users

The funding round was led by Kleiner Perkins Caufield & Byers and Institutional Venture Partners (IVP). Existing investor DN Capital also participated.

The company says the investment will be used to help the service expand into TV and greater interactive services.

IVP general partner Dennis Phelps said, "Over the last 12 months, Shazam has seen a 100% increase in the number of people downloading its mobile application each week, making it an integral part of their life. With 4m tags ...

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