London’s public transit app and mapping service Citymapper has put itself up for sale, appointing New York advisory firm, Raine to find potential buyers.
Despite significant losses, it has already attracted interest from global technology companies.
According to reports, interested parties include tech juggernauts Apple and Google’s Alphabet.
Although it has struggled in recent times, City Mapper has seen impressive growth since its creation back in 2010, now operating in over 40 cities worldwide, including New York, Tokyo and Melbourne.
At the end of 2019, the London travel start-up accumulated losses of around £21 million, causing it to ramp up its hunt for more funds – and quickly – from its leading app.
Stay tuned for further developments.