Why SoundHound is valued at 5 Shazams – TechCrunch

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. So what happened that would make SoundHound now significantly more valuable than its British counterpart?