The owners of CityMap call it one of the most social and most monetizable maps in the world. With a new expansion plan announced this week, the app—which launched in 2012 with a map of every shop in New York City—is going global.
"Citymaps, which launched in 2012 as a map of every shop in New York City—and eventually evolved into a social map complete with recommendations from friends—is now officially global," reports Matthew Flamm. "On Thursday the company announced its worldwide expansion and a $6 million funding round that has supported its mapping effort over the past year."
Citymaps is most recognizable for its license with the NYC Taxi & Limousine Commission for NYC Map, the interactive mapping service available in New York taxis. According to Flamm, CityMap "[is] now planning to launch a native-advertising program that would allow merchants to market themselves to users." Such revenue streams make CityMap, according to the claims of founder and CEO Elliot Cohen, one of the most monetized (and monetizable) maps in the world.
Read the full story: First stop, NYC. Next stop, everywhere else.
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