The Wonders of Helping Businesses Leverage Voice AI
Voice AI business SoundHound is expected to go public on the Nasdaq via a SPAC transaction at a valuation of nearly $ 2.1 billion in early 2022, blank check firm Archimedes and its target have announced.
The last time you heard the name SoundHound might have been several years ago when it was seen as a lesser-known competitor to Shazam. Now that’s worth 5.25 times what Apple paid for the leading music recognition service – some $ 400 million, in a deal that closed in the fall of 2018. It was five years after TechCrunch reported SoundHound’s “struggles to come out of Shazam’s shadow,” despite over 175 million users.
So what happened to make SoundHound now much more valuable than its UK counterpart?
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Well, part of the gap could be due to Shazam’s somewhat bumpy trajectory; after all, he was valued at $ 1.02 million after his fundraising money in 2015. But it’s SoundHound we’re looking at today, because if we are to believe his SPAC deck, it seems let him do nothing but magic in plain sight.
To find out more, let’s take a closer look at SoundHound’s history and take a look at the case it presents to make the case for its double unicorn valuation.