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The San Francisco-based company is in talks with SVF Investment Corp 3 to make it public, according to the report, citing a US banking source. (https://bit.ly/3aCbYLw)
Investment banks such as Cantor Fitzgerald LP, Citigroup Inc, Deutsche Bank AG, JPMorgan Chase & Co and UBS AG could be involved in the transaction, Sky said.
SoftBank invested in Mapbox through its technology-focused Vision Fund, which led a $ 164 million fundraising round for the company in 2017.
Mapbox, whose website has shown to have raised a total of $ 226 million so far, was valued at $ 1.2 billion as of April 2020, according to data from PitchBook.
Founded in 2010, the company provides mapping services and a cloud location platform for developers. The company doesn’t have an app, but it has over 700 million monthly active users of its cards and is 100% carbon neutral, according to its website.
The company’s customers include Facebook Inc, Snap Inc, IBM Corp, Lonely Planet, CNN, and Instacart.
SoftBank did not immediately respond to a request for comment from Reuters, while Mapbox could not be reached.