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Uber Would Spend $3 Billion on Nokia’s Here Mapping: NYT

Corporate And Media Leaders Attend Allen & Company Media And Technology Conf.


Uber is ready to spend up to $3 billion to acquire Nokia’s mapping service HERE, just to avoid becoming dependent on Google’s mapping technology as it spreads beyond taxi rides.

Uber and Nokia spokespeople declined to comment.

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According to the The New York Times Uber is competing against a consortium of automakers, including BMW (BMWG.DE), Audi and Mercedes-Benz (DAIGn.DE).

The ride-hailing company has grown rapidly and expanded its funding round by $1 billion in February to total $2.8 billion with avaluation of $41.2 billion. Uber told investors it would have more than $2 billion in revenue in 2015.

According to The Wall Street Journal,  Here generated a loss of €32 million last year, but the business is growing. It generated revenue of €970 million in 2014, an increase of 6% from the year before. Nokia has identified Here’s fair value at about €2 billion, or $2.24 billion.


Uber is competing against BMW,   Audi and Mercedes-Benz for a mapping service,   according to the New York Times.




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