Amazon Buys Mapping Startup
Giving Google and others a run for their money, Amazon is getting into the mapping business with the acquisition of 3D mapping startup UpNext. “For Amazon, which doesn’t have a mapping
service of its own, the acquisition seems to mark a move into new territory,” GigaOM reports. While the price of the acquisition is undisclosed, GigaOm hears that investors are getting a 500%
return on a $500,000 investment they made 16 months ago – suggesting that the company sold for $2.5 million.