Tech giant Apple has acquired Chinedu Echeruo’s HopStop.com.
HopStop.com makes mobile applications for both iOS and Android that covers over 300 cities and that helps people get directions or find nearby subway stations and bus stops.
The terms of the deal have however not yet been disclosed.
Chinedu Echeruo founded HopStop in 2005. The company has been compared to Israel’s Waze which was recently acquired by Google for $1 billion. This is seen as Apple’s plan to bolster its map offering especially given Google’s recent acquisition of Waze.
Chinedu Echeruo grew up in Eastern Nigeria and attended Kings College, Lagos.
He attended Syracuse University and the Harvard Business School in the United States and founded HopStop.com after working for several years in the Mergers & Acquisitions and Leveraged Finance groups of J.P Morgan Chase where he was involved in a broad range of M&A, Financing and Private Equity transactions.
2 year old news.