Is There a Better Way to Build Maps?

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Oct. 25 (Bloomberg) -- MapBox CEO Eric Gunderdson discuses the company's map making product with Emily Chang on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

A small company takes open source maps and helps companies such as uber, foursquare and ever note use him for their own apps.

You have got the biggest tech companies in the world.

Had you set yourselves apart from them?

-- how do you say yourselves apart from them?

What separates us is how we use open source software and how we are working with open data communities.

We need a really good set of data.

You have a community of over a million people going out there.

I understand why the most interesting parts about your products is it is customizable.

Different apps can do different things with a map.

Give me an example.

Brand really matters, especially on the app.

Being able to change the color of the map.

Being able to control the entire brand experience.

It is like an exercise app.

You take out the freeways, you just have the hiking trails.

Exactly.

The maps on apps are such a core feature.

You have to be able to control all those details.

You charge $.50 per impression.

Google can afford to supplement its maps a different way.

How do you plan to make money?

Google does subsidize their maps.

Any big player has to have maps.

25% of their search business is local.

The monetization they're doing right now, they're trying to figure out ways to reduce the cost.

Spending over $1 billion a year, that's a lot of money.

How many impressions do you get from uber on a particular day?

Hundreds of millions of impressions across our different subscribers.

We have over 2500 paid subscribers.

Start tweaking the colors of the map, hit save.

"usa today" used your maps on election night.

Tell us about that.

I was 20 million people looking at the map in real time -- that was 20 million people looking at the map in real time.

This is real data coming in showing where the results are.

For us, it was a huge win.

"new yroork times" was down for 15 minutes.

Our maps were just cranking.

You guys have been funding yourselves until now.

You're making $10 from the foundry?

Yes.

Foundry invested last week in us.

It's our first time taking outside capital.

You work for an ngo -- worked for an ngo.

Right.

We were there helping ngo's in d.c. in afghanistan, during the election, doing map work.

When you're working with ngo's and data, a lot of that requires having a better map.

The traditional players in maps were focusing on desktop.

What are you using the money for?

This is about team growth.

We're going to have the best tech by continuing to have the best engineers.

So it is for talent.

Absolutely.

What is the talent pool for

This text has been automatically generated. It may not be 100% accurate.

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