The sale of Citymapper underscores the challenges in the current market for startups that are running out of money, but also the challenges for Citymapper in particular, as well as those endemic to the transportation sector overall.Ĭitymapper made big waves when it first launched its urban movement planning app, which today includes not just public transit routes but also walking, cycling, scooters and taxis to help users get from A to B. crowdfunding raise of around $8 million (£6 million in local currency). Things then went very quiet, until last month, when reports suddenly began to surface of the acquisition being announced today by Via.īackers of the startup included Balderton, Index Ventures, Benchmark, DST Global Partners and a number of high-profile individuals, who collectively put around $52 million into the startup, alongside a more recent U.K. It has been rumored for years that Citymapper was trying to find a buyer, with names like Google and Apple - which once name-checked the app as a must-have to use on its own hardware - once floated as possible acquirers. (One publication has reported $100 million we were told that it was 'well below' this amount.) Via has confirmed it's a mixture of cash and stock, while sources close to the deal tell TechCrunch that Citymapper investors are mostly not making their money back in the transaction and that it's effectively a washout. Originally making a name for itself as an alternative to apps like Google Maps for consumers planning journeys in metropolitan areas using public transportation, Citymapper has around 50 million users globally.įinancial terms are not being disclosed. Now, a piece of that strategy is falling into place: today the company is announcing its acquisition of Citymapper, the London startup that produces a popular urban mapping app.

Last month, when transportation startup Via raised $110 million at a $3.5 billion valuation, CEO Daniel Ramot said it planned to make acquisitions to grow its transportation technology stack.

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