Apple Inc. (NASDAQ:AAPL) has acquired virtual assistant mobile application company Siri. Siri is essentially a “getting-things-done” application. You just press the green button that says “Say It” and it brings up a solution to your problem. For example, if you say “I’m looking for an Italian restaurant in San Jose,” the application will pull up information about the Italian restaurants in that area. You can also say you are looking for a table for two and it will use OpenTable to confirm a reservation.
Apple’s acquisition of this application indicates that they are interested in getting into the search business. Apple and Siri did not reveal the numbers about how much they were acquired for, but we can estimate around $100-$200 million based on how early Siri sold themselves and due to the fact that they have raised about $24 million in venture capital. Investors in Siri include Menlo Ventures, The Li Ka Shing Foundation, SRI International, and Morgenthaler Ventures.
Below is a video demo of Siri’s product