D.C. location software company Mapbox is in talks to go public via a merger with a company backed by tech giant SoftBank, Sky News reported Friday.
In a deal that could value the company at around $2 billion, Mapbox would merge with SoftBank’s SVF Investment Corp. 3, a special purpose acquisition company (SPAC). Also known as blank check companies, SPACs are created for the purpose of acquiring other companies and taking them public.
Mapbox, a mapping software company with offices on 15th and H Streets NW, works with clients including Snapchat, The Weather Channel, Tableau, IBM and DoorDash. Mapbox declined to comment on the deal.
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