Google is considering a buyout of Waze, the mapping app for iPhone and Android that specializes in crowd-sourced information. Waze’s asking price is around $1 billion, according to a new report from Bloomberg. Other big tech companies have been courting the map startup, most notably Facebook.
“None of the bidders is close to clinching a deal and the talks may fall apart,” says the report. There have been whispers that Apple has also considered an acquisition, but nothing concrete has surfaced yet.
Waze would be a good asset for any of the three aforementioned companies. The service has more than 40 million users that report valuable information like traffic incidents and wrecks. At this point, Apple Maps could probably use the functionality more than Google.
- Source Bloomberg