TripAdvisor (TRIP) Acquires Citymaps
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) in Advanced Talks to Acquire B/E Aerospace (BEAV) - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
TripAdvisor (NASDAQ: TRIP) acquired New York-based Citymaps, a social mapping platform that enables tourists to discover countless hidden gems and hot spots, near and far, all around the world. The website and app make it easy for consumers to find points of interest, navigate urban destinations and share favorite locations with friends.
“The Citymaps team understands how people experience their day through a maps lens,” said Adam Medros, senior vice president, global product, TripAdvisor. “We are excited to welcome the team to the TripAdvisor family of brands to help TripAdvisor ensure its mapping features best address the needs of its users who are increasingly accessing the site on mobile devices.”
“Over the past several years, we have built a popular mapping app that delivers socially-powered inspiration and exploration for travelers,” said Elliot Cohen, CEO and co-founder of Citymaps. “Given our shared focus on helping travelers plan and experience a great trip, we look forward to working with the TripAdvisor team.”
The importance of online mapping technology is increasingly significant in consumer usage for everyday situations, including tourism. In 2015, TripAdvisor’s “TripBarometer Connected Traveler Report” revealed that 81 percent of U.S. travelers use maps on their smartphones to find their way around¹.
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.
Citymaps will continue to be run as a standalone business. Terms of the acquisition will not be disclosed.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- TripAdvisor (TRIP) Shares Pop Higher Amid Chatter
- Susquehanna Starts TripAdvisor (TRIP) at Neutral
- AT&T (T) Agrees to Acquire Time Warner (TWX) for More than $80 Billion - WSJ
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions
Related EntitiesNeedham & Company, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!