AfterDawn: News

Facebook close to buying Waze for up to $1 billion

Facebook is reportedly close to buying Israeli start-up Waze for a reported fee of $800 million - $1 billion.

The news was broken by business daily Calcalist, reporting that due diligence is underway and a term sheet was signed. Waze specializes in satellite navigation, and uses members' smartphones to generate maps and traffic data.



In October 2012, it partnered with Facebook to let users share their drive with friends through the social network.

If bought by Facebook, it will be the third acquisition of an Israeli firm by the social giant, after buying Snaptu for $70 million in 2011, and Face.com for $60 million last year.

Written by: James Delahunty @ 9 May 2013 13:29

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• 2 comments

• A5J4DX

  its crap google maps ftw!
  

  9.5.2013 16:45 #1

• xtago

  mmm I wionder what facebook would do with waze, I do use it here and there the routing isn't great but waze could be be better with a large company that has the money and the servers able to handle the amount of data going around the place.
  
  I guess this was the reason why they did the facebook link up thing instead of fixing up some parts of the app and map editor.

  10.5.2013 01:13 #2