Apple Acquiree's Path to Exit Crosses Through Banff

Posted by Techvibes NewsDesk

Last week Techvibes reported that Toronto-based startup Locationary was acquired by Apple for “multiple tens of millions” in what is believed to be Apple’s first acquisition in Canada in the last decade.

Locationary was one of a handful of companies that presented at the 2012 Banff Venture Forum ten months ago.

As part of the IT Stream, Locationary joined Atlantic Canada's Celtx, Toronto's LoyaltyMatch, Toronto's Uberflip, Calgary's iConnectivity, and Vancouver's Mobio Technologies on stage in front of a packed audience.

Maybe your startup can follow in Locationary's footsteps. Apply now to present at the 2013 Banff Venture Forum. The deadline for presenting company applications is July 30, 2013.

Locationary came to Apple’s attention when CEO Grant Richie wrote an opinion piece for Techcrunch following the iOS 6 maps blunder. Among five points, he suggested that aggregating location data is hard, and Apple ought to consider licensing third-party sources. He also suggested that aggregating business information is even harder than location data. Thus, Apple would need specialized databases on specific verticals (which is specifically where the acquisition came into play).  

Apple evidently took his suggestions seriously and what eventually resulted was today’s reported purchase. According to Techcrunch, Locationary has “plowed through 5.61 billion data fields, managing 175 million profiles across 253 feeds and repositories.”

Company:
Locationary
Website:
http://www.locationary.com
Location:
Toronto, Ontario, Canada

Locationary is changing how local data is collected and verified. Currently, mobile apps and search engines rely on local data licensed from aggregators that copy most of the information from yellow page directories. This process is expensive and results in stale data typically 12-18 months old. Locationary believes that only a global army of locals dedicated to data verification can keep this information... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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