Report: Google to Drop $1.3B for Waze Navigation Software
June 10, 2013 7:43 AM
comment(s) - last by
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.
Wall Street Journal
This article is over a month old, voting and posting comments is disabled
RE: Not sure
6/10/2013 11:13:21 AM
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.
"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer
Google Knocked by Analysts, But Shows Strokes of Brilliance in Q1 2014
April 18, 2014, 2:33 PM
Google Street View and reCAPTCHA Get Smarter with New Algorithm
April 17, 2014, 9:02 AM
Mt. Gox CEO Refuses to Come to the U.S. in Financial Crimes Probe
April 16, 2014, 3:50 PM
Mark Zuckerberg: Facebook Home Reception Slower than Expected, Social Graph Will Pick Up
April 16, 2014, 2:00 PM
FBI's Facial Recognition Database to Have 52 Million Criminal, Non-Criminal Photos by 2015
April 15, 2014, 2:56 PM
Microsoft's Anti-Google "Scroogled" Campaign May Have Ended
April 15, 2014, 2:44 PM
Most Popular Articles
Cities to Carpoolers: Sharing Your Car is Illegal, We Will Seize Your Cars
April 4, 2014, 9:17 PM
iPad Exploiter is Freed by Federal Appeals Court
April 11, 2014, 7:40 PM
A-10 Warthog May Live to Fight Another Day with Support from Lawmakers
April 14, 2014, 9:41 AM
Taiwan's AOU Claims to Have World's Highest-Res. OLED Smartphone Display
April 11, 2014, 1:44 PM
EFF: NSA May Have Used IRC Botnets to Exploit Heartbleed for Last Two Years
April 14, 2014, 4:43 PM
Latest Blog Posts
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information