Uber to spend $500 Million to Create Own version of Google Maps
Uber wants to map the world in an attempt to lessen its dependence on Alphabet’s (NASDAQ: GOOG) Google Maps. The ridesharing app company is planning to spend $500 million to create its mapping technology.
The privately-held company is already using vehicles to map large areas of the United States and Mexico, The Financial Times reported. The idea is to replace the Google Maps in the current Uber app with an in-house solution.
The in-house solution will apparently include an Uber version of Google Maps and an Uber version of Google Earth. Uber feels such solutions are necessary because Google Maps and Google Earth are simply not accurate enough the service’s purposes.
Another reason is to save money because Alphabet (NASDAQ: GOOGL) is increasing the fees it charges for Google Maps. Such fees can add up quickly with all those Uber drivers operating all over the world.
Uber has made some big moves in mapping including buying mapping company deCarta and hiring a team of imaging experts from Microsoft (NASDAQ: MSFT), The Financial Times reported. To oversee the effort, Uber has also hired the man who created Google Earth; Brian McClendon.
Maps will Enable More Self-Driving Cars
A long term use for the mapping technology is to apply the technology to self-driving cars. Uber is testing self-driving vehicle technology in Pittsburgh and working with both Ford (NYSE: F) and Fiat Chrysler Automobiles (NYSE: FCAU) in the development of autonomous cars.
Having a proprietary mapping system would make it far easier to develop self-driving vehicle technology. A major problem for such vehicles is to navigate in urban areas and elsewhere.
It looks as if Uber is well on its way to becoming a full service transportation technology company. One has to wonder what Uber is planning to invest in next.
https://geekcrunch.reviews/uber-spend-500-million-create-version-google-maps/https://i2.wp.com/geekcrunch.reviews/wp-content/uploads/2016/08/uber.jpg?fit=625%2C350&ssl=1https://i2.wp.com/geekcrunch.reviews/wp-content/uploads/2016/08/uber.jpg?resize=150%2C150&ssl=1TechAlphabet (NASDAQ: GOOGL),Alphabet’s (NASDAQ: GOOG),Autonomous Cars,Fiat Chrysler Automobiles (NYSE: FCAU),Ford (NYSE: F),Google Earth,Google Mpas,mapping technology,Maps will Enable More Self-Driving Cars,self-driving vehicle technology,Uber,Uber appUber wants to map the world in an attempt to lessen its dependence on Alphabet’s (NASDAQ: GOOG) Google Maps. The ridesharing app company is planning to spend $500 million to create its mapping technology. The privately-held company is already using vehicles to map large areas of the United States and...Daniel JenningsDaniel Jennings[email protected]AuthorGeek Crunch Reviews