Facebook Considering Acquisition of Waze Navigation Start-Up for up to $1 Billion

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News Posted: Thu, May 9 2013 10:48 AM
Mark Zuckerberg and the rest of the decision makers at Facebook are in "advanced talks" to acquire Waze, an Israeli start-up that makes a social GPS application with turn-by-turn navigation for GPS-enabled smartphones. Apparently Facebook is really enamored with the app, as the price that's being floated around the web is anywhere from $800 million on up to a whopping $1 billion, the latter of which is the same Zuckerberg and company paid for Instagram.

News of the potential acquisition was first reported by Calcalist, a Hewbrew-language daily business newspaper published in Israel by the Yedioth Ahronoth Group. According to Calcalist, nothing is yet official, though negotiations are currently in the due diligence phase, which means the two sides have signed an agreement in principle on the sale.

Waze Screenshots

Facebook isn't new to acquisitions in Israel. The social networking site purchased Face.com last year for $60 million, and in 2011 it scooped up Snaptu for $70 million.

Waze is a free mobile app that's available on Android, iPhone, and Windows Phone devices. The concept behind Waze is to build a community of drivers who share real-time traffic information and live road alerts. Waze then uses the information it gathers to provide users with the fastest route based not necessarily on distance, but road conditions as reported by other Waze users, rerouting during the commute if necessary.
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Shadizzle replied on Thu, May 9 2013 10:53 AM

FB now owns this?.... Time to uninstall

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lipe123 replied on Thu, May 9 2013 12:47 PM

First it was whatsapp and now waze?!

Seriously facebook %^&*# OFF! We don't want you destroying these good apps with your stupid ad's and crap.

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Yeah they really need to back the heck off... But then again I can see why they would want it, it's too bad these small things get gobbled up by large corporations and then never seen again :(

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Clixxer replied on Thu, May 9 2013 11:22 PM

Question is will this stay independent or something they will try to roll up into their facebook apps? I would think independent but who knows assuming they do buy them.

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The app sounds cool, but my gps is still more accurate than my phone and doesn't use data.

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eunoia replied on Fri, May 10 2013 5:14 AM

Israelis have been known to do amazing things with cellphones. It looks like Facebook is looking to be the next Microsoft, acting as gatekeepers and deciding who lives and who dies. For now it's still a rumor, so nobody should lose their heads over this.


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