Why SoundHound is valued at 5 Shazams
Voice AI company SoundHound is set to go public on the Nasdaq via a SPAC transaction at a nearly $2.1 billion valuation in early 2022, blank check company Archimedes and its target announced.
The last time you heard SoundHound’s name might have been several years ago when it was considered a lesser-known Shazam competitor. Now it’s worth 5.25x what Apple paid for the leading music recognition service – some $400 million, in a transaction that closed in the fall of 2018. That was five years after TechCrunch reported on SoundHound‘s “struggles to exit Shazam’s shadow,” despite boasting more than 175 million users.