Google now in bid war with Facebook for mapping startup Waze

[Jord]

Link

 

 

Two weeks ago we reported that Facebook was interested in purchasing Israeli mapping startup Waze for up to $1 billion.

Today, it appears that Google is also now in the bidding, and that could up the buying price.

 

Waze specializes in satellite navigation for mobile devices, and uses members' smartphones to generate maps and traffic data. More importantly, Waze collects user's traveling speed and direction, which is extremely valuable data if monetized correctly. Google Maps and other popular mapping apps do not include such data.

 

It had been reported that due diligence between Waze and Facebook had been going on for six months and a term sheet had already been signed. The talks seems to have stalled due to Facebook's demand that the whole team relocate to Palo Alto from Israel.

 

The company currently has 47 million users, with 12 percent coming from the U.S. It also has particularly strong penetration in Brazil and its home country.

 

[Blackyv]

Track speed and movement in states? Someone is going to cry privacy infringement ..

 

Btw, lta should join the bid... This is what they want for their so call satellite erp...

Edited May 26, 2013 by Blackyv

[Deckbuild]

Its a good platform to advertise, can't really track a persons location since the actual location is always delayed.

[Yeobh]

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[Mingsect]

been using this app at times..

damn accurate..

last night when there was a road work at the lane 3 after the pie/bke exit

 

waze was able to indicate speed slow down to 30/20km/h and traffic tailing back to pie/bke enterance....

nothing from lta site abt heavy or slow traffic