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Telenav Held Talks With Navmii Before Acquiring Rival Navigation App Skobbler

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Telenav Held Talks With Navmii Before Acquiring Rival Navigation App Skobbler

Navmii

After Google got Waze final June, reportedly for $ 1.1 billion upwards, there followed so much hypothesis surrounding which mapping startup may well be next to exit.

The Day Before Today we closed the loop on one hearsay — that maps and navigation app maker Skobbler had been approached by a couple of “major tech companies” considering making an acquisition — confirming that Telenav has obtained the Berlin-based startup for simply shy of $ 24 million.

However, TechCrunch is aware that Skobbler wasn’t the one OpenStreepMap-powered startup to be on Telenav’s radar. We’re listening to that the U.Okay.’s Navmii, maker of Navfree, the free mapping and navigation app for iOS and Android, used to be additionally being eyed up as a target.

Consistent With sources as regards to the London-based totally firm, it held talks with NASDAQ-listed Telenav over a conceivable acquisition ultimate February. It’s my figuring out that these talks will have even long past as far as Telenav putting a formal offer for Navmii on the table, although in any case it didn’t progress any longer. Why that was once, is doubtful, although we’ve heard that a difference in valuation may have been a topic.

The Identical sources also say that, across the similar time, Navmii used to be maintaining exploratory conferences with an enormous player in Silicon Valley, although this may increasingly had been of the type that happen as a subject of events.  We additionally bear in mind talks had been held with a 3rd “major firm” in the cell space. Alternatively, it’s right here where things dry up, so take that as you’re going to.

Founded in 2009, Navmii builds more than a few sat-nav and mapping solutions, including its own apps and for others. However, its flagship and best possible identified product is Navfree, which was one of the first free navigation apps for iOS when it used to be released in 2010. It has due to the fact added reinforce for Android and is on hand in 52 countries.

Like Skobbler, the app is powered by using the ‘Wikipedia of maps’ OpenStreetMap (OSM) data. It bargains turn-by using-flip voice navigation, including beef up for offline maps, in addition to points of interest (POI) and more than a few different mapping-associated options, some paid-for. Particularly, much like Waze, it additionally employs crowdsourcing for its traffic data, collecting Three billion factors of velocity traffic data each month. And, as Waze has confirmed, crowdsourced ‘realtime’ visitors knowledge, coupled with sufficient customers, is usually a precious proposition, so this may be the foundation for any acquisition.

To that end, Navfree claims 17.5 million users in whole — defined as downloads/registrations. In The Meantime, Navfree informed me last June that customers were averaging 30,000 map corrections monthly, fed again to the OSM information that powers the app’s maps. Navfree makes cash for the company basically by selling nameless data, as well as through in-app merchandising, and in-app purchases for plenty of top class features.

As we referred to following Google’s buy of Waze, the place at one time Apple, Fb and Microsoft were additionally linked to the Israeli startup, mapping is of accelerating strategic significance to major technology companies as an increasing number of computing process is mobilised onto smartphones and tablets, and far from the static computer world. Having access to place data isn’t simply at hand for customers, however increasingly more it’s of strategic value to the major expertise companies as area-primarily based services and products and merchandising turn out to be ever extra vital.

There are somewhat few international mapping corporations in play, too, with the foremost ones being Google, Navteq (Nokia), and Tele Atlas, whereas others akin to Apple are scrambling to play catch up.

What price any possible acquirer will placed on Navmii’s map app constructing expertise or its energy inside the OSM ecosystem and its own crowdsourced traffic data and current set up base, is hard to say.

That said, in Telenav’s ~$ 24 million acquisition of Skobbler ($ 19.2 million in cash, along with $ 4.6 million in in style stock), now we have a further information level along with Google’s acquisition of Waze.

We also comprehend that Navmii has raised £Four million in outdoor funding so far, most recently £2 million in June 2012 from traders prompt by using Talis Capital, so a decent return isn’t inquiring for anything on the dimensions of Waze’s $ 1 billion-plus exit.


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