Amazon Buys Map Startup UpNext

Amazon.com reportedly agreed on Monday to buy mapping startup UpNext, the latest sign of increased competition between the world's largest internet retailer and tech rivals such as Google and Apple. GigaOM reported that UpNext Founders Raj Advani, Vik Advani, Robin Har and Danny Moon will move from New York to Seattle, where Amazon is based, to lead the e-commerce company's mapping efforts. The technology news service didn't report a purchase price, but said UpNext backers, including Chris Sacca's Lowercase Capital, will get a five-fold return on their investment, made about 16 months ago.