Facebook in talks to buy Israel's Waze for up to $1 billion: report
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.
Facebook in talks to buy Israel's Waze for up to $1 billion: report
Reviewed by Kratos Olympian
on
08:08
Rating:
Reviewed by Kratos Olympian
on
08:08
Rating:
No comments:
Comment Policy
We’re eager to see your comment. However, Please Keep in mind that all comments are moderated manually by our human reviewers according to our comment policy, and all the links are nofollow. Using Keywords in the name field area is forbidden. Let’s enjoy a personal and evocative conversation.