Google Facebook in bidding war over Waze
May 25 , 2013
Google is reportedly holding discussions with Israeli crowd-sourced mapping app provider, Waze. Earlier, Facebook had shown keen interest in acquiring Waze. The mapping start-up has been in negotiations with several large tech companies and is looking at a price of about $1 billion. Industry experts are uncertain if Google’s bit to acquire Waze is an attempt to improve upon its own mapping service or if it is to prevent arch competitor Facebook from acquiring the company.
Waze has a membership of over 47 million. Members actively contribute to building up the data for the mapping app. Acquiring Waze is important to both Google and Facebook since mapping applications are among the top 5 applications used by smartphone users. Currently Waze offers both Android and iOS based apps which showcase real-time information about traffic and navigation, speed, holdups, accidents, and diversions.