Apple acquires mapping startup WiFiSlam
In an acquisition which is evidently aimed at improving the quality of its erroneous and much-derided maps service, tech giant Apple has reportedly acquired Silicon Valley mapping startup WiFiSlam.
Despite the fact that the terms of the acquisition have not been officially disclosed, though the take over has been confirmed by Apple, a Wall Street Journal (WSJ) report by Jessica Lessin has revealed that Apple has worked out an approximately $20 million deal with WiFiSlam.
The acquisition of WiFiSlam - a startup which makes mapping applications for smartphones - will apparently help Apple in creating indoor maps because, as per an AngelList profile of the company, the WiFiSlam technology can "allow your smartphone to pinpoint its location (and the location of your friends) in real-time to 2.5m accuracy using only ambient WiFi signals that are already present in buildings."
Given the fact that WiFiSlam develops technology which provides indoor tracking and similar services, the AngelList profile further says that the company is currently working on "the next generation of location-based mobile apps" which will boast an unprecedented capability of engaging with users "at the scale that personal interaction actually takes place."
Furthermore, about the mobile apps being developed by WiFiSlam, the AngelList profile mentions that "applications range from step-by-step indoor navigation, to product-level retail customer engagement, to proximity-based social networking."