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August 1, 2016 06:08 pm GMT

Uber reportedly invested $500 million to build a better mapping system

An Uber Japan Co. employee holds an Apple Inc. iPhone 5s showing a map on the Uber application for a photograph during a demonstration in Tokyo, Japan, on Wednesday, March 5, 2014. Uber Technologies Inc., the booking-app developer backed by Google Inc.s investment arm and Amazon.com Inc. founder Jeff Bezos, expanded to Tokyo using licensed taxi operators rather than private drivers. Photographer: Junko Kimura-Matsumoto/Bloomberg via Getty ImagesAccording to a report in theFinancial Timesover the weekend, the ridesharing giant is adding half a billion dollars to a new mapping project to help free itself of Google Maps. Many ridesharing services use the maps service to navigate the roads, but Google Maps has limited accuracy in many non-Western countries. Google has also upped the cost of the service lately,cutting into… Read More

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