UK Local Directory Firms: Mapping The Minutiae
Can smaller directory companies providing maps and local information compete with the sector’s global giants? The FT.com has an in-depth article looking at 192.com, Touch Local and Multimap, three privately owned UK companies, with the goal of becoming the “mighty minnows” of the local knowledge market. They’ve got stiff competition: Google (NSDQ: GOOG) and its mapping service; Nokia, (NYSE: NOK) which just bought Navteq for £3.93 billion ($8.1 billion); and personal navigation device maker TomTom hoping to buy Dutch mapping firm Tele Atlas after rival Garmin dropped out of the bidding.
But these three firms are betting on the smallest details—some might even call them obscure—to keep them competitive. Aside from company records and the usual mapping and phone numbers, 192.com, for example, offers access to birth, marriages and deaths records. CEO and founder of 192.com Alistair Crawford said, “You can not only find the number for the plumber, but you can see the house he trades from and the turnover of his company.” Touch Local is trying to differentiate itself by becoming a cross between an internet directory and social network site. Multimap says its 12-year old database of information gives it’s a depth of information that’s difficult to replicate.
Still, the companies haven’t yet become money-spinners. Multimap and 192.com have modest profits—under £1 million ($2.06 million). Touch Local sustains itself on the £7 million ($14.41 million) investment it received two years ago from VC firm Balderton. Moreover, its likely they themselves will one day be snapped up by their larger competitors—a point which they all concede.
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