Apple Inc (NASDAQ:AAPL) Taking A Cue From Cue?
As per Apple Insider, an anonymous tipster has cited that Apple Inc (NASDAQ:AAPL) has acquired a startup, Cue. This company had created a Personal Assistant App for the phone. This company had shuttered this well and this anonymous entity claims that the technology giant has shelled-out $35M-$45M for Cue. The latter had received funding from Sequoia Capital and Index Ventures and
was a Y Combinator venture-capital’s alumnus.
Cue has not released any information about the final funding-round but the Apple Insider source says that it raised approximately $10m from Index Ventures. The personal assistant app that had been developed by Cue aggregated data from contacts, email and calendars and incorporated them into a single daily-picture. It functioned casino pa natet on the lines that GoogleNow and iOS7’s contextual- notifications worked. This app is actually much older than these two apps.
The company was previously Greplin and it indexed different bits of content from various social networking sites such as Facebook and Twitter. It would also source information from Gmail all permits a single search to get links and information from different sources. In 2012, it changed to be being Cue and started focusing on the personal-assistant app.
Apple Inc (NASDAQ:AAPL) follows a standard policy of not commenting about its acquisitions in advance. But tech watchers feel that the functionality that the Cue app offers will be very useful in developing the company’s Siri personal assistant.
Thursday’s trading session
In Thursday’s trading, Apple Inc (NASDAQ:AAPL) dropped by 1.26%. The shares opened at a price of $483.41, climbed to an intraday high of $492.35 and dipped to a close of $65.04. Approximately 11.53 million shares were traded on Thursday while an average volume of 13.88million shares were traded over a 30 day period. The 52-week low of the company’s shares is $385.10 and its 52-week high is $674.25. The company has a market capitalization of $439.18 billion.