THE BLOG
07/08/2013 06:57 am ET Updated Sep 07, 2013

Mexican Billionaire Carlos Sim Invests $40 Million in Shazam

Carlos Slim, the Mexican billionaire, has made a $40 million investment in Shazam, the U.K.-based software company, Reuters reported earlier today. The company identifies music and television programming via the microphone on a mobile device and displays related information on an App. It has been growing quickly with broadcasters and advertisers seeing to be part of the so-called "second screen."

Last month at the Cannes Lions festival, I spoke with news appointed Shazam CEO Rich Riley about the company's growth in television and it's plans to become a music portal. We republished that interview with today's news.