Trapster CEO reveals reasons for selling business

Trapster CEO reveals reasons for selling business

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US: To take Trapster – a location-based social driving application to the next level, there was the need for vector data. Hence, the company sold its business to NAVTEQ, reveals Pete Tenereillo, former Trapster CEO.

According to Tenereillo, there were three alternatives:
1) License the data; but it was prohibitively expensive for a free app.
2) Create the data; but it would have required a big venture capital and years of engineering work.
3) Partner with a company who already has this data.

“With NAVTEQ data we can know what road the user is on, and can match that with traps and incidents on that road. We can also get speed limit, class of road, and lots more,” said Tenereillo.

“With NAVTEQ data we can do continuous predictive routing, constantly figuring out what path the user is most likely to take and providing relevant alerts for that path far in advance,”  continued Tenereillo.

Talking about NAVTEQ’s business point of view towards this acquisition, Tenereillo said, “We have 10 million users who crowdsource real time speed trap, traffic, accident, etc. data. NAVTEQ appears to be totally focused on content, and they were willing to understand how to support communities in getting to the data they want most.”

Other social elements in Trapster application include:
– Caravan feature, which allows users to see other users (friends) on the map in real time and send audio messages to one other car or a group.
– My Trips feature, which allows users to record a trip, share the trip with friends and family, or on Facebook or Twitter.

Source: www.socialtimes.com