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Home Tech Why SoundHound is valued at 5 Shazams – TechCrunch

Why SoundHound is valued at 5 Shazams – TechCrunch

The wonders of serving to corporations leverage voice AI

Voice AI firm SoundHound is set to go public on the Nasdaq by way of a SPAC transaction at a virtually $2.1 billion valuation in early 2022, clean verify firm Archimedes and its goal introduced.

The final time you heard SoundHound’s identify may need been a number of years in the past when it was thought of a lesser-known Shazam competitor. Now it’s value 5.25x what Apple paid for the main music recognition service – some $400 million, in a transaction that closed within the fall of 2018. That was 5 years after TechCrunch reported on SoundHound‘s (*5*) regardless of boasting greater than 175 million customers.

So what occurred that will make SoundHound now considerably extra helpful than its British counterpart?

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Well, a few of the discrepancy could be on account of Shazam’s considerably bumpy trajectory; in spite of everything, it was valued at $1.02 million submit cash in its 2015 fundraise. But it’s SoundHound we’re wanting at right now, as a result of if its SPAC deck is to be believed, it appears it is simply doing magic in plain sight.

To discover out extra, let’s have a more in-depth look at SoundHound’s historical past, and dig into the case it is making to argue for its double unicorn valuation.

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