Global travel planning and booking site TripAdvisor acquired Citymaps, a New York-based social mapping platform.
The amount of the deal was not disclosed.
Led by Elliot Cohen, CEO and co-founder, Citymaps provides a website and app that enable tourists to points of interest, navigate urban destinations and share favorite locations with friends, all around the world.
According to Adam Medros, senior vice president, global product, the acquisition will “help TripAdvisor ensure its mapping features best address the needs of its users who are increasingly accessing the site on mobile devices“.
TripAdvisor’s existing mapping features currently help consumers find, book and experience the best things destinations have to offer and receive millions of views per day.
Following the deal, Citymaps will continue to be run as a standalone business.
It was backed by Nokia Growth Partners, Coatue Management, Acadia Woods, among others.
FinSMEs
26/08/2016