Business & Tech
Apple Maps a Route to Success
The Cupertino-based company acquires two startups that will boost Maps.
Written by Beatrice Karnes
Apple has confirmed that it acquired Toronto-based Locationary and New York-based HopStop, widely seen by analysts as a way to boost its struggling map app.
The purchase prices have not been disclosed.
According to TechCrunch, HopStop details walking, taxi, and bicycle directions, along with mass transit information.
Locationary locates businesses.
Apple released the statement, “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”
The company has been striving to improve Apple Maps since last September when the iPhone5 was released with faulty maps. CEO Tim Cook released an apology that began, “At Apple, we strive to make world-class products that deliver the best experience possible to our customers. With the launch of our new Maps last week, we fell short on this commitment. We are extremely sorry for the frustration this has caused our customers and we are doing everything we can to make Maps better.”
Since the stumble, Apple’s stock price has fallen from $705 to $425.
Which map app do you use? Tell us below in comments.
