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Facebook to buy Waze for $1 billion ?


If the reports from the Israeli media are to be believed, then we might see a facebook waze partnership sometime soon. Waze, the urban navigation and social mapping platform is currently in talks with Facebook for a full acquisition. Now, we have seen Facebook buy a number of such start ups recently, however what makes this deal unique is the price that Facebook is willing to pay. According to sources, Facebook is going to acquire Waze for around $800 to $1 billion dollars. This is a pretty hefty amount, especially when the company had acquired Instagram for around the same price range.



By the end of July 2012, Waze had reached the 20 million users mark and we are sure that the number would have doubled by this year. The app is basically a social mapping platform which enables drivers to navigate and access real time traffic data. Users can add and edit information like new landmarks, police presence, traffic jams etc using the app which would in turn help other fellow drivers.

Given that Facebook is trying to increase its presence in the mobile market, its integration with Waze would indeed be beneficial. Many of the features in Waze are unique to the app and bringing them on board Facebook Home would make a lot of users happy. Moreover, it would give Facebook a much needed edge over other competitors in the market like Google and Apple.

Also it is worth noting that Apple won’t be happy with this deal. Earlier this year, there were rumors of Apple trying to buy Waze for half a billion dollars. Waze’s integration into iOs maps would have given it the much needed push in the market, but unfortunately the deal did not go ahead.

Anyways, both Facebook and Waze did not comment on the rumors and looks like we would have to wait for an official announcement from the company to confirm this news.

via Ynet

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