Capmark Financial Group’s newly combined companies generated more than $1 billion in 2014 e-commerce sales.
The king of web sales reportedly will buy UpNext, a 3D mapping company.
UpNext, a provider of 3D mapping apps for the iPad, iPhone and Android mobile devices, will now provide the base for building 3D mapping apps for Amazon.com Inc.’s Kindle Fire, following the reported deal by Amazon to buy UpNext. Terms of the deal were not disclosed.
UpNext is operated by its four co-founders—Raj Advani, Vik Advani, Robin Har and Danny Moon—and backed by investors including Lowercase Capital, Bullet Time Ventures, Box Group and PKS Capital. UpNext’s mapping apps let users view 3D images of city streets and tap to view more details about particular buildings or areas.
Neither New York-based UpNext nor Amazon replied to requests for comment. Amazon is No. 1 in the Internet Retailer Top 500.
UpNext launched in 2007 with 3D mapping technology for personal computers, but has more recently focused on building mobile apps—offering a technology foundation for filling a void in Amazon’s Kindle Fire tablet computer. In order to access maps on the Kindle Fire today, consumers must use a mapping service through a mobile browser or download a third-party Android app.