LONDON and SAN FRANCISCO, March 26, 2015 (GLOBE NEWSWIRE) -- The Nasdaq Private Market, LLC today announced it has been selected by Shazam, one of the world's most popular mobile apps, to manage equity related functions for the company's employees and shareholders.
Launched in 2002, Shazam pioneered audio recognition technology to help users identify music around them. Since then, Shazam has continued to aggressively innovate, expanding into TV, retail, cinema, and radio, with further moves, like visual Shazaming and beacon technology integration, coming later this year. The Shazam app has over 100 million monthly mobile active users.
"We are extremely excited to begin our partnership with Nasdaq Private Market," said Rich Riley, CEO of Shazam. "Their fully integrated and cost-effective platform will provide Shazam with a comprehensive and flexible solution to manage the various currencies and complex accounting structures that comprises our diverse shareholder base."
"We are thrilled to have Shazam join our community of innovative and fast-growing private companies," said Carine Schneider, Nasdaq Private Market's President of Equity Management Solutions. "At Nasdaq Private Market we pride ourselves on supporting private, growth-oriented companies like Shazam and we look forward to providing the company's employees and shareholders with a world-class solution for all their equity management needs."
Shazam has more than 250 employees in offices across the U.S., UK and Australia. Its investors include Kleiner Perkins Caufield & Byers, Institutional Venture Partners, and DN Capital. The company recently secured a round of funding valuing the company at $1 billion.
About Shazam:
Shazam is one of the world's most popular mobile apps that magically connects people to the world around them. Shazam pioneered audio recognition technology that helps people identify music and has grown into a service that effortlessly connects people with artists, TV shows, ads, cinema, radio and retail environments. Shazam has over 100 million monthly mobile active users. For further information about Shazam Entertainment visit www.shazam.com and @Shazam.
About Nasdaq Private Market:
Nasdaq Private Market is the premier equity services provider to private companies. Our end-to-end solution enables private companies to digitize, integrate, and control all of their equity-related functions, including cap table management, shareholder liquidity, investor relations, and capital raising. Whether a company seeks to optimize an eventual IPO or remain private permanently, Nasdaq Private Market provides comprehensive capital market support to meet its needs. For certain eligible investors and shareholders, Nasdaq Private Market is a place to discover and engage with some of the most exciting private companies. Securities-related services are offered through NPM Securities, LLC, a registered broker-dealer and alternative trading system, member FINRA/SIPC. To learn more, visit www.npm.com.