(The Hosting News) – Is indoor mapping an emerging market in the tech landscape? iPhone maker Apple recently forked over $20 million for WifiSLAM.
Via its startup page on Angel.co, the product is described as such: “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.”
According to the report, the startup has been running for two years and part of its focus has included providing technology to app developers with areas including maps and social.
In fact, the move is also interesting because WifiSLAM includes a founder with an interesting resume: Co-founder Joseph Huang previously served as a Google software engineering intern.
The acquisition could also help Apple compete with Google, a company that already provides indoor mapping for the likes of airports, retail locations and more, according to the Journal.
Apple received widespread criticism following its debut of a new map app alongside iOS 6 last September. Apple CEO Tim Cook later apologized for the move in which he noted Apple had fallen short.