App developer Shazam gets US$40m backing from tycoon Carlos Slim

Smartphone app developer Shazam has found an unlikely ally in the form of Carlos Slim, one of the world’s richest men, who is investing US$40 million to back the development of the start-up best known for helping music fans identify catchy songs.

The move is surprising for 73-year-old Slim, who built his company America Movil in a more staid sector, namely the highly regulated telecommunications and TV business in Latin America.

via Business feed http://www.scmp.com/business/companies/article/1277806/app-developer-shazam-gets-us40m-backing-tycoon-carlos-slim