Google Eying $1.3 Billion Waze Acquisition [Rumor]
Google is again rumored to be closing in on a $1.3 billion acquisition of social mapping service Waze, just a month after it was reported that the Israeli startup was in “advanced talks” with Facebook. Google already has an office in Israel, and it’s thought that Waze’s social focus could be a good step forward for Google Maps.
Israel’s Globes reports that the Facebook deal fell through because the social network wanted to relocate all of Waze’s employees in the United States — where Facebook is headquartered. But that wouldn’t be the case with Google, which has already acquired to Israeli companies and has an office of its own in the country.
Some reports also suggested that Apple was interested in Waze, and that the Cupertino company would use its technology and its data to improve its own Maps service, which has been heavily criticized since its introduction with iOS 6 last fall.
But Apple CEO Tim Cook dismissed that speculation during his D11 appearance last month.
In late May, Bloomberg reported that Google had already made a $1 billion bid for Waze, but according to Globes, the figure is closer to $1.3 billion. Google already has arguably the best mapping service there is, but the company could be interested in Waze’s social technology.
Waze users have the ability to share important data with others, which means users can get accurate traffic information in real-time. They can also share information on things like police presence, road collisions speed cameras, and more.
Many of these features are not yet a part of Google Maps.