Softbank SPAC in Talks To Take Mapbox Public

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Deal Could Be Worth $2 Billion

Mapbox is in discussions to go public through a special purpose acquisition company (SPAC) that will be backed by SoftBank Group Corp. [9984.T], according to Sky News.

Mapbox, which is a Softbank Vision Fund portfolio company, is talking with SVF Investment Corp. 3 [SVFC.O] at a valuation of $2 billion, according to the Sky News article, which reported on the negotiations.  Mapbox declined a Location Business News request for a comment.

Mapbox Dash Will Be Integrated Into GM Vehicles (Photo: Mapbox)

To top off a week where GM said it would use Mapbox Maps+ in more than 900,000 compatible vehicles, the San Francisco-based mapping company also announced the launch of a customizable lane-level navigation system for cars. The system, called Mapbox Dash, allows automakers to customize a driver’s navigation experience, the company said.

Mapbox Dash supports integration into such services as parking, fuel, AI assistants, and streaming music.  Mapbox Dash is marketed to carmakers as a subscription service with updates.

Key Takeaways:

  • The company makes mapping products used by InstacartAdobeCNNIBMStravaSnapchatSquare and many others.
  • Mapbox is looking to grab a huge share of the auto mapping business, with recent deals with GM and last year with BMW.
  • GM will launch a customized version of Mapbox Dash for their ChevroletBuickGMC and Cadillac brands.

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