Skip to navigation
Latest News

Facebook to spend $1 billion on satnav firm Waze

Waze

By Reuters

Posted on 9 May 2013 at 08:46

Facebook is in advanced talks to acquire Israeli mobile satellite navigation firm Waze for $800 million to $1 billion, according to reports.

Due diligence is underway after a term sheet was signed, reports business daily Calcalist, 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 an updated version of its app 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.

Is your business a social business? For helpful info and tips visit our hub.

Subscribe to PC Pro magazine. We'll give you 3 issues for £1 plus a free gift - click here
Be the first to comment this article

You need to Login or Register to comment.

(optional)

advertisement

Most Commented News Stories
Latest Blog Posts Subscribe to our RSS Feeds
Latest ReviewsSubscribe to our RSS Feeds
Latest Real World Computing

advertisement

Sponsored Links
 
SEARCH
Loading
WEB ID
SIGN UP

Your email:

Your password:

remember me

advertisement


Hitwise Top 10 Website 2010
 
 

PCPro-Computing in the Real World Printed from www.pcpro.co.uk

Register to receive our regular email newsletter at http://www.pcpro.co.uk/registration.

The newsletter contains links to our latest PC news, product reviews, features and how-to guides, plus special offers and competitions.