Mapping Startup CloudMade Raises $12.3M
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Steve Coast, a cofounder of the Menlo Park, Calif.-based company founded the OpenStreetMap community mapping project in 2004, and CloudMade draws its data from OpenStreetMap. Through application programming interfaces and other tools, CloudMade helps developers take advantage of OpenStreetMap’s geographical data to power their own location apps, then takes a share from the apps’ advertising revenue.
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