Google to pay $1.3 billion for Waze?
The potential hokup with Facebook, which could have broadened and enhanced the social networking that the Waze app offers, fell apart because Facebook wanted to uproot the Waze team from Israeli and move them to Facebook HQ. For its part, Google has already purchased two Israeli firms and left the operations of both in that country.
Waze uses signals from subscribers' phones to generate real-time traffic reports. The app then sends out the best route for travelers based on traffic conditions reported from other Waze members, and other factors such as construction and accidents. Police radar traps are revealed to subscribers along with low gas prices.
Interestingly, Microsoft was an early investor in Waze back in 2009, but has passed up investing in later financing rounds. With the rumored interest in Waze, it would not be surprising to see a bid from Google kick off a bidding war for the company. Perhaps that explains the higher bid rumored to be coming from Google, 30% above the $1 billion previously mentioned in earlier speculation. Google might bid higher in order to eliminate any competitive offer for the company, which has close to 50 million users.
source: Globe (translated) via WPCentral
1. Scorpion (Posts: 103; Member since: 28 Apr 2012)
There is no reason to uproot them form Israel. Both Microsoft and Google have R&D here, there's an Intel plant, and even Apple made an entry. Also R&D for the SGS3 camera was done here. Startup country is a nice book by the way...
2. tedkord (Posts: 7659; Member since: 17 Jun 2009)
This would be great, if they could integrate Waze into Maps.
5. buccob (Posts: 2165; Member since: 19 Jun 2012)
I've been saying this for years... way back to "Google Buzz"... And now it is hopefully becoming a reality...
Google is the best to get it, otherwise if Apple or Microsoft gets it, they will kill other OS's support for Waze..
Google instead cares for broader user base...
Waze is the best Navigation app in my country due to the fact that Google Navigation is not supported here.
3. PAPINYC (banned) (Posts: 2315; Member since: 30 Jul 2011)
That's so cool, soon we'll be able to do it the Google Waze'!!
6. Stuntman (Posts: 828; Member since: 01 Aug 2011)
I find Waze is much better than Google Maps at both providing traffic information and picking the best routes. It can alter the route on the fly if it finds a better route in response to changing traffic conditions.