MacNN | Facebook reportedly in talks to acquire Waze with near-$1 billion bid
Mac News Network View: Standard | Headlines | Categorized | Slim
Mac News Network
Mac News iPod News Reviews Forums
 

Desktop Headlines
Facebook reportedly in talks to acquire Waze with near-$1 billion bid
Thursday, May 9, 2013 @ 12:44pm

Crowdsourced traffic and navigation app service Waze may be acquired by Facebook, according to a report. The discussions between Waze and Facebook come months after a possible acquisition offer from Apple and appears to be reaching the same financial levels as the billion-dollar Instagram deal in April last year.



The report by Calcalist claims the discussions have been going on for the last six months, and a period of due diligence is under way. It is estimated that the deal is worth between $800 million and $1 billion, with sources of TechCrunch apparently confirming the pricing, with the main issue being whether Waze should be kept in Israel or moved to the United States, similar to the acquisitions of Snaptu and Face.com. The combination of Waze and Facebook doesn't initially appear to be that useful to either company, as Facebook does not currently offer a mapping product for Waze to work upon, but the social network may be attracted to it as part of its ongoing push into the mobile space. The earlier attempt by Apple to pick up Waze allegedly reached the point where the offer reached $500 million, but Waze wanted around $750 million. Reports at the time suggested the company was valued at $200 million during its last funding round, with investors aiming for a $1 billion buyout. The attempted acquisition was a logical one at the time, with some Waze data being used in iOS 6 Maps.

Comments on this Article
Print Friendly Version
Email to a Friend
Add MacNN to Your RSS Feeds
Buy from the Apple Store


Related Stories:

Today's MacNN Stories:

  • FCC 'deeply troubled' over Verizon's decision to slow down customers - 7:54 PM EST
  • UBS again praises Cook, urges investors to 'buy in' to AAPL for fall - 7:00 PM EST
  • Apple issues MacBook Air EFI firmware update for unstable version - 5:37 PM EST
  • Apple seeds first betas of OS X 10.9.5, Safari 7.0.6/6.1.6 to devs - 4:44 PM EST
  • No redesigned Apple TV set-top until 2015, report says - 4:24 PM EST
  • Major layoffs impacting Beats during Apple takeover, sources say - 3:30 PM EST
  • Logitech G402 Hyperion Fury claimed as 'fastest gaming mouse' - 3:02 PM EST
  • QuarkXPress 10.2 adds rendering, notes features,bugfixes - 2:47 PM EST
  • Best Buy CEO: Post-PC era ending, tablet sales 'crashing' - 2:46 PM EST
  • Russia asks Apple, SAP to turn over source code as anti-spy measure - 1:07 PM EST
  • Crowdfunding Critic: Modbook Pro X - 1:03 PM EST
  • Updated Apple page promotes taking advantage of US tax holidays - 11:42 AM EST
  • FreedomPop brings free plans to iPad mini, Galaxy Tab 3 - 10:48 AM EST
  • Apple Boot Camp page also points to 'mid 2014' 27-inch iMac - 9:31 AM EST
  • Opinion: iPad Air + Logitech Folio + Office for iPad = Productivity? - 5:48 AM EST
  • Briefly: Updated bags for MacBook Pro, Teacup InDesign CC plug-ins - 1:13 AM EST
  • Review: Adesso Xtream S3B Bluetooth speaker - 12:40 AM EST

    Today's iPodNN Stories:
  • Virgin Mobile introduces prepaid plan with customizable data usage - 7:35 PM EST
  • Twitter acquires 'visual intelligence technology' startup Madbits - 6:48 PM EST
  • Sony: EA Access plan doesn't offer value PlayStation users expect - 4:48 PM EST
  • Tor compromised earlier in year, relay attack to 'deanonymize' users - 3:42 PM EST
  • Google Chrome 64-bit implementation released for Windows 7, 8 as beta - 3:39 PM EST
  • No comments posted on this story yet. Please post yours.
    Your Comments
    In order to post comments, you must be a registered member of the MacNN Forums and logged in. Please login with your MacNN Forums username and password.

    MacNN Forums Login:

    MacNN Forums Password:

    Not a member of the MacNN forums? Register now for free.