Tags: facebook | israel | waze | buy

Facebook in Talks to Buy Israel's Waze for up to $1 Billion

Image: Facebook in Talks to Buy Israel's Waze for up to $1 Billion A driver waves his hand over the Waze traffic and navigation app on his Apple iPhone.

Thursday, 09 May 2013 02:05 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Facebook Inc is in advanced talks to acquire Israeli mobile satellite navigation start-up Waze for $800 million to $1 billion, business daily Calcalist reported on Thursday.

Due diligence is underway after a term sheet was signed, Calcalist said, adding that talks began six months ago.

Waze uses satellite signals from members' smartphones to generate maps and traffic data, which it then shares with other users, offering real-time traffic info.

Officials at Waze declined to comment on the report.

Waze and Facebook partnered in October 2012 when Waze released its updated version that allows users to share their drive with their Facebook friends.

This would be Facebook's third acquisition in Israel. It bought Snaptu in 2011 for $70 million and Face.com in 2012 for $60 million.

In the last year, Waze tripled its user base to 45 million and in March alone, 1.5 million users downloaded the free mobile navigation app, Calcalist said.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Google Wants to Fly Drones Over New Mexico

Tuesday, 16 Sep 2014 14:28 PM

Google is planning to begin testing drones in a virtually uninhabited area of New Mexico in pursuit of providing interne . . .

Bezos and Musk Go Head-to-Head in Skies and in Court

Tuesday, 16 Sep 2014 12:43 PM

From cyberspace to outer space, the battle for supremacy between Amazon founder Jeff Bezos and PayPal founder Elon Musk  . . .

Boeing Likely To Be NASA's Choice for Space Taxi

Tuesday, 16 Sep 2014 10:26 AM

Boeing appears to have won a large contract to build spacecraft that would take astronauts to and from orbit for NASA.  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved