MapBox to use DigitalGlobe's photos
Financial terms of the agreement were not disclosed between Longmont-based DigitalGlobe (NYSE: DGI) and Washington, D.C.-based MapBox, www.mapbox.com. MapBox charges customers up to $149 per month for up to 300,000 map views, according to the company's website.
MapBox has more than 600 paying customers, said Eric Gundersen, chief executive of the 3-year-old company. Customers include the Foursquare social media mobile phone application and news organizations such as USA Today and National Public Radio, Gundersen said. Potential customers may be looking for an alternative to Google Maps, which charges "fees" for large-scale use of maps, according to the Mapbox website.
MapBox workers also collaborate with engineers at Google Maps, a division of Google Inc. (Nasdaq: GOOG) and other online companies, Gundersen said. MapBox is different from Google Maps and other websites in that it lets users design their own map pieces, Gunderson said. MapBox is privately held.
Much of the imagery on Google Earth and Google Maps also comes from DigitalGlobe.
DigitalGlobe reported $107 million in revenue in the most recent quarter, up from $81.9 million in the same quarter of 2011. Its net income was $8.5 million, or 18 cents per share, up from net income of $1.1 million, or 2 cents per share, last year.
The company plans to close on its self-described "combination" with rival satellite image provider GeoEye Inc. in the first quarter of 2013. GeoEye (Nasdaq: GEOY) is based in Herndon, Virginia. DigitalGlobe is taking over GeoEye, and will keep its name and executive team. DigitalGlobe shareholders will control 64 percent of the combined company. The deal is worth about $900 million.
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