July 08, 2013
América Móvil, the telecoms operator controlled by Carlos Slim, has invested $40m in music recognition app Shazam, in what is thought to the Mexican billionaire’s first investment in a UK company.
Shazam will be preloaded on handsets sold by América Móvil from later this year, easing its path to millions of potential users in Latin America.
“It’s Latin America that’s going to be the focus now, alongside North America and Western Europe,” said Andrew Fisher, Shazam’s executive chairman.
The parties declined to comment on the size of Mr Slim’s stake, although a person with knowledge of the deal said the investment valued Shazam slightly above $400m.
Read the rest of the article online here: Carlos Slim invests $40m in music app Shazam - FT.com