Goby, the travel startup described by tech celeb Robert Scoble as more important than Foursquare, has been acquired by location services giant TeleNav.
Terms of the sale were not disclosed, but "most of the 11" employees are expected to join Telenav and will remain in Goby's home offices in Boston.
However, Telenav says the acquisition is not expected to have any material affect on its cash position and financials results.
Goby [TLabs Showcase - Goby] is an location-based and mobile-driven search engine which allows people to find activities and other things to do on a trip or during their free time.
The company, fronted by CEO Mark Watkins, was venture capital-backed and had raised$2.5 million in October 2010 from Flybridge Capital Partners and Kepha Partners.
Goby has grown at an impressive rate since its launch in early 2010, attracting around 500,000 users at the turn of the year - a figure Watkins hoped would reach one million by the fourth quarter of 2011.
NASDQ-trading Telenav was one of the first companies in North America to launch a GPS management service and has since grown to provide products in 29 countries through 16 mobile carriers.
Here is Scoble's interview with Watkins and a demo:
httpv://www.youtube.com/watch?v=h_ys5CNd0Wo