Communication technology manufacturer Nokia exited US-based social mapping platform developer Citymaps on Wednesday through an acquisition by travel media company TripAdvisor, which paid an undisclosed amount.
Citymaps operates an online platform that allows users to create, curate and share their own themed maps built around specific interests, listing collections of routes, local sites and attractions. It will continue to operate as an independent subsidiary post-acquisition.
The company had raised about $13m in venture funding since it was founded in 2010, according to press releases and regulatory filings.
Nokia’s corporate venturing unit, Nokia Growth Partners, took part in a $6m series A round in February 2016 that included investment firms Coatue Management and Acadia Woods. The company’s earlier investors included venture capital firm A-Grade Investments.
Adam Medros, TripAdvisor’s senior vice-president of global product, said: “The Citymaps team understands how people experience their day through a maps lens.
“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.”