TeleNav snaps up travel search startup Goby Technologies - Bizjournals.com
Former Endeca executive Mark Watkins founded Goby Technologies Inc. in 2008. The company had raised $7.5 million in venture capital before selling to TeleNav (Nasdaq: TNAV) for undisclosed terms.
Boston travel search startup Goby Technologies Inc. has been bought by TeleNav Inc. (Nasdaq: TNAV), a provider of wireless location-based services, for undisclosed terms.
Based in Sunnyvale, Calif., TeleNav (Nasdaq: TNAV) said in a press release that the majority of goby's 11 employees would become TeleNav employees and stay in the Boston offices. The company also said it would reveal at a later date just how much of goby's semantic leisure search technology would be integrated into TeleNav's offerings.
Founded in 2008, goby raised $7.5 million from venture capital backers including Flybridge Capital Partners of Boston, and Kepha Partners of Waltham, Mass. In a news release, HP Jin, president, CEO and co-founder of TeleNav, said, "We are impressed with what the goby team has built to date and are excited about what we can do together moving forward."
In December of 2009, goby reported it had landed deals with four Boston-area media properties, to apply its technology to users with a page that lets them search for "things to do near Boston." The media partners were mix1041.com, wbz.com, wods.com and wzlx.com.
Goby was founded in 2008 by CEO Mark Watkins, a former R&D executive at Endeca Technologies Inc. and serial database entrepreneur Michael Stonebraker. Backers include venture capital firms Flybridge Capital Partners of Boston and Kepha Partners of Waltham.
06 Sep, 2011--
Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFL-JKFuxrJvd9fhhQ50LSyMZhIug&url=http://www.bizjournals.com/boston/news/2011/09/06/telenav-snaps-up-travel-search-site-goby.html
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