VC-backed Shazam to pursue IPO

The plans were announced upon the recent appointment of former Yahoo vice-president Rich Riley as the firm's new chief executive. The new hire will be based in Shazam's New York office, fueling speculation that the firm may pursue a listing on Nasdaq.

The IPO could take place as soon as next year, according to reports.

Shazam counts several VCs among its shareholders, including Kleiner Perkins Caufield & Buyers (KPCB) and Institutional Venture Partners, which co-led a $32m funding round for the firm in 2011. Existing backer DN Capital also participated in the round.

In 2009, KPCB led an undisclosed series-D round for the firm, alongside Acacia Venture Partners and DN Capital. In March 2004, DN Capital, Lynx New Media and several business angels invested in a $5m third round of financing for Shazam. In April 2003, IDG Ventures Europe led a €6m second round of funding for the company, alongside Lynx Capital Ventures, both of which invested in the previous €7.5m round in July 2001.

The company's revenues are reported to have reached £21.8m in the year ending in June 2012, but the firm posted a pre-tax loss of £3m.

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• Topics
• UK / Ireland
• Exits
• Kleiner Perkins Caufield & Byers
• DN Capital
• United Kingdom
• IPO