Wednesday, April 24, 2013

Google acquires Wavii after bidding war with Apple

Google has purchased Wavii for a sum above $30 Million, it was reported on Tuesday. The company was bidding against its arch-rival, Apple, for the natural language processing startup.

The reason Apple wanted Wavii is a four-letter word: Siri. Wavii had developed its own natural summarization algorithms and aggregation technology. The 25-person team -- including founder Adrian Aoun -- will be moving from Seattle, Wash., to join Google’s Knowledge Graph division.

While the Wavii acquisition could be chyaracterized as somewhat of a defensive move, as it blocked Apple's buy, it also could be a key addition to Google's Knowledge Graph technology. Wavii has an app that features a "personalized news feed."

The news feed can include status updates about "any topic," whether it be technology, entertainment, politics, and more. Ironically, the company added that it can even include updates on a "startup acquisition."

Wavii did not yet have an Android app, but it's iOS app says the following:
Have fun discovering what's happening in the world with instant news feeds for any topic. Wavii automatically creates status updates about technology, politicians, celebs, and everything else, turning the world's events into conversation starters you can discuss with friends.
With over $135 billion in cash in the bank, one would have thought that if Apple had valued Wavii enough, topping the $30 million price tag would not have been difficult for Apple.

Wavii had raised $2 million in venture funding.

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