Niantic Labs, makers of popular game Ingress, has announced that it is on its way of becoming an independent entity. So it is spinning out of Google, but will it be a part of Alphabet ? Though it will be backed by Google – albeit only initially – the company is venturing on its own, just days after the creation of the new parent company called Alphabet Inc.
So you got your answer there. No, N is not for Niantic. They are now completely on their own.
Niantic Labs, known for its augmented reality game Ingress and location discovery app Field Trip, was started by John Hanke in 2010; six years after he joined Google following the acquisition of Keyhole, the mapping startup he cofounded in 2004. It was through Hanke’s Keyhole produced technology that Google products such as Maps, Earth, and Streetview were born.
We’ll be taking our unique blend of exploration and fun to even bigger audiences with some amazing new partners joining Google as collaborators and backers,
read the official announcement made on Google Plus.
Niantic plans to build on the success of Ingress, which has over 12 million downloads, and according to the company “has attracted more than 250,000 people to live events around the world, and has inspired users to collectively walk the distance from the earth to the sun while playing, exploring and discovering.” It is also planning on a Ingress inspired television show as well.
They’re now ready to accelerate their growth by becoming an independent company, which will help them align more closely with investors and partners in the entertainment space,
Google said in a statement.
We’re excited to continue supporting them as they bring exploration and fun to even more people around the world.
The genesis of Alphabet has received a favorable response from the stock market as Google stocks soared by 7 Percent, to close at a high of $708 during after-ours trading, immediately after the announcement.