Thursday, 9 May 2013

Facebook Looking to Buy Waze for $1 Billion

Waze is the world's fastest-growing community-based traffic and navigation app. Join other drivers in your area who share real-time traffic and road info, saving everyone time and gas money on their daily commute.

Nothing can beat real people working together

Imagine 30 million drivers out on the roads, working together towards a common goal: to outsmart traffic and get everyone the best route to work and back, every day.

Traffic is more than just red lines on the map

Get alerted before you approach police, accidents, road hazards or traffic jams, all shared by other drivers in real time. It's like a personal heads-up from a few million of your friends on the road.

With community-edited maps, you won't hit a dead end

An active community of Waze map editors works to constantly improve and update Waze's maps. That's why they're the first to reflect changes happening in your neighborhood, constantly improving routing for everyone.

Your friends are just around the corner

See other friends also driving to your destination, when you connect to Facebook. Coordinate everyone's arrival times when you pick up or meet up with friends. Now you're effortlessly in sync when you drive together.

Save on gas, every time you fill up

Navigate to the cheapest station on your route, all powered by community-shared gas prices. By working together to report prices at the pump, Waze drivers can always save some gas money.

Facebook is considering buying GPS company Waze for $800 million to $1 billion, Israeli daily newspaper Calcalist reports.

The talks are in an advanced stage, Calcalist claims. The two companies started talking started six months ago, due diligence is underway and a term sheet was signed.

Waze, whose turn-by-turn navigation app uses crowdsourcing to gather real-time conditions on the road, has had 44 million users in April 2013.

The two companies are partners; Waze already lets users share their drive with Facebook friends. Buying a social, mobile app with a strong user base makes sense for Facebook; if the acquisition happens it'll be interesting to see what Facebook's plans are in the GPS/location space.

Facebook has spent that kind of money on a mobile app before when it acquired Instagram for 1 billion dollars in April 2012. The company also already acquired two Israeli startups: Snaptu in March 2011 for $70 million and in June 2012 for $60 million.


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