SocialRadar has been acquired by Verizon

SocialRadar, the D.C.-based mapping startup founded by Blackboard cofounder Michael Chasen, has been acquired by Verizon. TechCrunch broke the news Wednesday night.
According to the article, Verizon plans to use SocialRadar’s PlaceKit technology for MapQuest. PlaceKit is a fairly new enterprise for SocialRadar — the company was initially focused on creating a location-based consumer app before pivoting to focus on making location data better. That’s where PlaceKit, and LocationKit, the company’s other product, come in.
In a conversation with TechCrunch, Chasen declined to reveal the financial side of the acquisition but confirmed that SocialRadar will keep its office on 19th Street and that all six current employees will stay with the company as it moves to Verizon.
SocialRadar previously raised a $12.75 million Series A in June 2013, back when the company was still working on a consumer-facing product.