Verizon, the corporate parent of TechCrunch and AOL has acquired SocialRadar, a mapping technology start-up founded by Michael Chasen in 2013. SocialRadar is a technology that provides location insights for businesses. Verizon has purchased the start-up for an undisclosed amount. The enterprise will be using SocialRadar’s mapping technology in MapQuest.
“We started by talking about a partnership. The acquisition makes the synergy even stronger.” Micheal Chasen told DC Inno.
The SocialRadar has witnessed many shifts prior to acquisition. It shifted from consumer tech app to software development kit. Shana Glenzer, DC tech queen, left the company and taken up the CMO role at Aquicore and the software engineers from Gridskippr left to launch an independent startup called Parkour Method.
“We accomplished what we wanted to do at SocialRadar. We are going back to our fundamental roots to serve developers with new ways to use location data now using context” said Phillip Zakas, who is now CTO at Parkour.
The SocialRadar will keep its existing offices. The team has already started working together with the MapQuest team in Denver and other AOL offices to integrate its data and services with MapQuest’s existing tools. Talking about the deal, Chasen told Techcrunch that he is very excited about getting his service in the hands of millions of consumers and developers. He also noted that MapQuest’s reach into the developer community will mean that many mobile apps will soon be able to offer far more accurate and responsive location-based features.
“We always wanted our tech to be used by as many people as possible. MapQuest will be integrating our tech all over.” Chasen added.
Previously, SocialRadar has raised $12.75 million in June 2013 led by Growth Tech Ventures and New Enterprise Associates in Series A round of funding. SocialRadar had six employees at the time of the acquisition and now, they all are moving to Verizon.