Print 10 comment(s) - last by amelia321.. on Jun 10 at 6:37 PM

No official confirmation has been offered at this time

After months of rumors circulating that Google, Facebook, and Apple were all jockeying to purchase an Israeli mapping/navigation company called Waze, sources claim that a deal has finally been struck.
According to sources, the price tag for Waze is $1.3 billion.
Reports also indicate that Facebook executives had flown to Israel to meet with Waze executives, but no deal could be reached. The sticking point in Facebook negotiations was reportedly the fact that Waze wanted its employees to continue working in Israel and Facebook wanted them to relocate.

The Wall Street Journal indicates that Google's Waze purchase is its fourth-largest by dollar value and could be announced as soon as this week. Google will no doubt use Waze to bolster its mapping/navigation efforts around the globe.

Waze currently has nearly 50 million users, and is a free application that is available on Apple and Android devices. The application operates in roughly 190 countries and draws GPS information from the device to learn about traffic flow on the road and provide drivers with better routes. Waze also has a community of 70,000 members that helps edit maps, provide fuel prices, and point out locations of accidents.
Interestingly, Microsoft is also an investor in Waze – neither Google nor Microsoft have offered an official statement on the purchase at this time. 

Sources: Wall Street Journal, Globes

Comments     Threshold

This article is over a month old, voting and posting comments is disabled

The sticking point....
By DrApop on 6/10/2013 1:07:37 PM , Rating: 2
...for Facebook was they wanted the employees to relocate to the US but Waze didn't want that????

No problem....."Yeah sure we will keep the main unit here." Six month after the purchase you shut it down and move it to the US....what the hell!

Unless the purchase needed approval by the Israeli government and mandated the firm stay in Israel to keep their people employed. (hmmmm....a novel concept. instead of moving the business overseas you keep it in the home country to keep people employed)

Not sure
By BRB29 on 6/10/13, Rating: -1
RE: Not sure
By invidious on 6/10/2013 10:11:48 AM , Rating: 3
I would agree that Gmaps functions great and is not in any dire need of updates. But there is always room for improvement.

RE: Not sure
By lelias2k on 6/10/2013 11:26:54 AM , Rating: 2
Especially in other countries. In the US and Europe, traffic data availability is great, but in other countries, especially the underdeveloped ones, crowd-sourcing technology can help improving accuracy and re-routing.

RE: Not sure
By amelia321 on 6/10/13, Rating: -1
RE: Not sure
By Luticus on 6/10/2013 10:21:42 AM , Rating: 4
If i had to take a stab at it, Google probably wants it to keep the others from getting it.

RE: Not sure
By retrospooty on 6/10/2013 10:55:34 AM , Rating: 2
That has to be it... Gmaps is at or near the best, depending on who you ask, and is already getting a major update later this year per the announcement a few weeks ago.

RE: Not sure
By theapparition on 6/10/2013 11:13:21 AM , Rating: 4
While Gmaps is probably the best, there's a lot of added value it can add from the Waze technology.

Product stagnation in the super competitive technology field, especially in software, is a sure sign of death. There's always going to be someone who comes along with something better.

Even if you're #1, you need to keep innovating to stay there. There was a time when the iPhone had the largest smartphone market share, too.

RE: Not sure
By BRB29 on 6/10/2013 10:58:05 AM , Rating: 2
Yep, that's what I gathered. There's no point in buying something you already have besides market share.

RE: Not sure
By SigmundEXactos on 6/10/2013 12:16:12 PM , Rating: 2
You guys obviously haven't used Waze. It does 3 things that google maps doesn't:
1) It updates your route based on traffic info. Google maps just added functionality to account for traffic when you start, but it doesn't update as you drive based on new info.
2) It uses actual speeds vs being capped at the speed limit, to find those back roads that are actually faster than the main roads.
3) ***** Waze shows the location of speeding and (less important) red light cameras and police vehicles.

"Nowadays you can buy a CPU cheaper than the CPU fan." -- Unnamed AMD executive

Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki