Voice AI Company SoundHound is set to go public on Nasdaq through a SPAC transaction in early 2022 at a valuation of approximately $2.1 billion, following the blank check company Archimedes and its target announced,
The last time you heard the name SoundHound was several years ago, when it was considered a lesser-known Shazam competitor. It’s now worth 5.25x what Apple paid for the flagship music recognition service — some $400 million, in a transaction that closed in the fall of 2018. This was five years after Nerdshala reported. sound Hound“Struggling to break out of Shazam’s shadow”, despite claiming over 175 million users.
So what happened that would make the SoundHound now significantly more valuable than its British counterpart?
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Well, some of the discrepancy could be due to some bumpy roads from Shazam; After all, it was valued at $1.02 million post money at its 2015 fundraising. But it’s the SoundHound we’re looking at today, because if its SPAC Deck Granted, it looks like it’s just doing magic in plain sight.
To learn more, let’s take a closer look at the SoundHound’s history, and dig into the case arguing for its double unicorn valuation.