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The company was co-founded in 2005 by Keyvan Mohajer, an Iranian-Canadian computer scientist and entrepreneur who specializes in voice AI. [11]In 2009, the company's music discovery app Midomi was rebranded as SoundHound, but is still available as a web version on midomi.com. [12] [13] The app grew from 2 million users in January 2010 to 100 million users in September 2012.
[3] [21] In January 2011, Apple announced that Shazam was the fourth most downloaded free app of all time on the App Store, while rival SoundHound had the top paid iPad app. [22] In August 2012, Shazam announced the service had been used to tag five billion songs, TV shows and advertisements.
Shazam, Soundhound, Axwave, ACRCloud and others have seen considerable success by using a simple algorithm to match an acoustic fingerprint to a song in a library. These applications take a sample clip of a song, or a user-generated melody and check a music library/music database to see where the clip matches with the song. From there, song ...
At around $20, SoundHound is a fairly affordable investment for most people, but the stock is far from cheap. What SoundHound offers is far ahead of these two, and it found commercial applications ...
SoundHound AI has two of the most important factors that give a stock multi-bagger potential: small size (with a market cap of $2.9 billion) and a huge addressable market.
SoundHound isn't profitable as it's still in the early stages of growth. Still, investors should know its operating loss was $33.8 million for the quarter, meaning expenses more than doubled what ...