Shazam announces investment by Kleiner Perkins
DN Capital portfolio company, Shazam announces investment by Kleiner Perkins
– Shazam hits 50 million user mark
London, 14 October 2009 – DN Capital, a leading growth capital and early stage investor in software and digital media, today confirmed that Kleiner Perkins Caufield & Byers (“KPCB”) has made an investment in its portfolio company Shazam, the world’s leading mobile music discovery provider. This investment is one of the few by KPCB into a European technology company and recognizes the successful international expansion to date of Shazam. KPCB has an unparalleled track record in assisting digital consumer businesses such as Google and Amazon to become market leading global enterprises.
Shazam has had a highly successful 2009 and has also announced today that 50 million people around the world have now used the service, an increase of 15 million users since February this year. The phenomenal milestone signifies just how popular the music discovery service has become. Shazam is now live in more than 150 countries.
DN Capital and co-investor Acacia Capital Partners have worked closely with Shazam through this period of growth, helping to build its senior management team and have been key supporters of Shazam’s international expansion since their initial investments.
Nenad Marovac, Founding Partner at DN Capital, commented:
“KPCB has a stellar track record in the field of digital consumer businesses. We are looking forward to working closely with them to help Shazam achieve its full potential.”
For further information, please contact:
Christina Chen, +44 (0)20 7340 1600, email@example.com/dncapital.
About DN Capital
DN Capital is a growth capital and early stage investor focused on software and digital media markets with offices in London and Palo Alto. DN Capital’s objective is to identify, invest in and actively support companies with the potential to be global leaders. Portfolio companies include Shazam Entertainment, Endeca Technologies, Datanomic, OLX, Digital Chocolate and Tbricks. The professionals at DN Capital bring over 50 years of private equity experience to their investments, and actively work with portfolio companies to steward their growth through the various stages of development.
DN Capital has completed eight new investments since January 2008 from its new fund, GVC II.
Additional information about DN Capital and our portfolio companies can be found on our website, www.demianortega.com/dncapital.
About Shazam Entertainment
Shazam is the world’s leading mobile music discovery application – enabling consumers to experience and share music with others across mobile devices and the internet. Since its launch as the first mobile-specific service to help users discover new music seven years ago, Shazam has created a new way for users to connect to each other through their music tastes and preferences.
Headquartered in London England, Shazam’s solutions enhance the music strategies of carriers in more than 150 countries, including AT&T, T-Mobile and Vodafone. It has deployed across multiple platforms such as iPhone, BlackBerry, Android, Symbian and Java.
The Shazam Tag Chart, generated by the company’s mobile music recognition service, is constantly referenced by the music industry as a true indicator of market interest in pre-release material and a monitor of the hit potential of a track or artist.
Shazam’s successes have been recognised through numerous awards, including the Mobile Entertainment Award for Best Music Service Provider.
For more information, please visit www.shazam.com.