Shazam names Yahoo alum Rich Riley CEO, sets sights on IPO
Shazam has named former Yahoo executive Rich Riley as its new CEO, replacing longtime chief Andrew Fisher, who will transition to executive chairman duties. AllThingsD reports Shazam is making the moves to strengthen its leadership team and put itself in position "for next stage of growth and IPO."
Riley spent more than 13 years at Yahoo, most recently as EVP Americas. He previously served as managing director and SVP of Yahoo's Europe, Middle East and Africa region.
The free Shazam mobile application pinpoints entertainment content from any source, regardless of ambient noise. After users hold their handset to the audio feed for a few seconds, the clip is run through the company's database to find an exact match.
Originally optimized for music discovery, Shazam has over time expanded into second-screen TV services, leveraging prompts integrated into television programs and commercials to urge consumers to access additional content and information via mobile device. First launched in the U.S. in 2011, Shazam for TV now extends across programming on 160 television channels; content partners include Fox's American Idol and HBO's Girls, and brand partners include Pepsi, Toyota, Barclays and Sony Entertainment.
Shazam eclipsed the 300 million worldwide user milestone earlier this year, including about 90 million users in the U.S. market. The 11-year-old firm has raised about $32 million from investors including Kleiner Perkins, Institutional Venture Partners, Acacia Capital and DN Capital.
The Riley hire follows roughly a month after Shazam named Daniel Danker to fill its newly created Chief Product Officer position. Danker previously served as the BBC's General Manager of Programmes and On Demand, where he led strategy and delivery of the broadcaster's iPlayer, iPlayer Radio and Red Button products. In addition to expanding Shazam's second-screen efforts, Danker oversees app development for smartphones, tablets and other connected devices across all major platforms.
- read this AllThingsD article
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