Intel may be a major player in the chip sector, but it could be a bigger player in the smart mobility sector soon taking on the likes of Uber and Lyft, as the company has just acquired Israel-based urban transit data startup Moovit for $900 million, the firm announced on Monday.
Moovit’s principal product is an urban mobility app with a particular focus on public transportation, which is used by hundreds of millions of customers. It uses public transit data to provide route planning in a similar vein to Google and Apple’s mapping apps, scooter and bike-sharing services and ride-hailing companies like Uber and Lyft. However, because it relies partly on crowdsourced data, Moovit can also provide routing for areas where no publicly released data is available and is able to get updates sooner than these other companies may be able to, even if they’re not always as accurate.
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