Facebook Ready to Drop $1B on Waze Purchase

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Social networking giant Facebook is apparently in negotiations to buy the social map app Waze in a deal that could hit US$1 billion. The companies are said to have been in negotiations for the past six months and are close reaching an agreement.

Facebook in talks to buy Waze for $1 billionFacebook in talks to buy Waze for $1 billion

Waze is known for its turn-by-turn direction system with map and traffic data that comes from its users. News of the potential deal came via sources talking with the Israeli publications Calcalist, Ynet, and The Marker.

The two companies previously teamed up to let Facebook users share their travels with friends, so they already had a working relationship ahead of the current negotiations. They haven't finalized a deal yet, according to TechCrunch, because they're still working out whether Waze's R&D team will stay in Israel or will move to the United States.

Waze should sound familiar to iPhone users since the company offers an iOS app, and has also provides some data for Apple's Maps service.

Niether company is commenting on the reports, but with the information that's leaked out so far it seems fairly likely Waze will have a new owner soon.

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3 Comments

John Dingler, artist

Wonder if Apple about to lose a valuable opportunity and if the sale to F is Apple’s blunder.

Bill

I _love_ Waze, but not enough to put up with a Facebook ownership. If the deal goes through, then buh-bye, Waze!

John Dingler, artist

To Bill,
I am seriously contemplating diving into F and perhaps Twitter to use all of these tools to promote myself and my artwork. So far, I feel good about not submitting to the Voles, feeling kind of clean, but also feel foolish in that I do make use of those opportunities. I am willing to dive in if I hear from some up and coming artist that they were a clear and direct benefit, but have not so far. I am divided, torn, feel like I am missing something important. On the other hand, I hear that self-promoting there adds another layer of self-promotional work to visiting art galleries, meeting directors, corresponding with them, etc.

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