As we have already covered the latest buy out in tech industry where Google acquired Waze for approx $1.1 billion dollars, its time to go into some details to find out what made Google buy Waze? The most popular nagviation app Waze has been acquired by Google till the time this post get published. Earlier Tumblr was acquired by Yahoo for approx. similar price. Waze has been top priority application in recent times; where apple started its bargain at $500 million and Facebook tries to buy it out at nearly $1 billion but Google acquired waze with highest bid of $1.1-1.3 billion.
Now; let’s go into brief history of Waze and why these tech giants were after Waze? The app was founded back in 2007 is a free mapping and turn by turn navigation app for all the major platforms of mobile phone including iOS, Windows and Android.
Recent stats states that Waze has been used by nearly 50 million users and still on steady growth. The amazing thing about Waze is it’s user engagement; it allows users to record all the latest happening on their way back to home either it be traffic blockage, traffic accident or any other related thing. Later it calculates / recommends best way to go home by calculating user’s speed using his phone.
But why did all the three big giants were attracted to Waze? The thing is with the invent of smart phones and revolutionary apps; maps has become one big tool being used by customers. Users rather than going into guide books, asking random person on the way they prefer their ease and use maps app to guide them. Talking about Apple, company’s current market offering in this regard is its own maps app that is poorly build and does not contain advance functionality.
Facebook on the other hand it working on various things to enhance its Android experience. We saw Facebook Home app, later it is rumored that Facebook is looking into make its Android operating system; having maps app in this makes sense.
Google’s situation is completely different. Google already offers brilliantly executed Maps. The below texting quoting Waze CEO Noam Bardin gives all the answers:
“We are excited about the prospect of working with the Google Maps team to enhance our search capabilities and to join them in their ongoing efforts to build the best map of the world,” he said, before revealing that “nothing practical will change” after the acquisition, and that Waze “will maintain [its] community, brand, service and organization.”
Google wanted to increase functionality in its maps offering; where users can give their input, stay updated to live updates and plan their journey accordingly. So, the big reason by Google wanted to win the Map game was to make its maps offering to such extent that users cannot think of any other mapping apps when it comes to Navigation.