The wonders of serving to corporations leverage voice AI
Voice AI firm SoundHound is about to go public on the Nasdaq by way of a SPAC transaction at a virtually $2.1 billion valuation in early 2022, clean examine firm Archimedes and its goal introduced.
The final time you heard SoundHound’s title may need been a number of years in the past when it was thought of a lesser-known Shazam competitor. Now it’s value 5.25x what Apple paid for the main music recognition service – some $400 million, in a transaction that closed within the fall of 2018. That was 5 years after TechCrunch reported on SoundHound‘s “struggles to exit Shazam’s shadow,” regardless of boasting greater than 175 million customers.
So what occurred that may make SoundHound now considerably extra precious than its British counterpart?
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Nicely, a few of the discrepancy may be on account of Shazam’s considerably bumpy trajectory; in spite of everything, it was valued at $1.02 million submit cash in its 2015 fundraise. But it surely’s SoundHound we’re right this moment, as a result of if its SPAC deck is to be believed, it appears it’s simply doing magic in plain sight.
To seek out out extra, let’s have a better take a look at SoundHound’s historical past, and dig into the case it’s making to argue for its double unicorn valuation.