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News: Facebook in talks to buy Waze

Facebook is looking to purchase Israeli navigation firm Waze if reports are to be believed.

Reuters is reporting that advanced talks have been underway for some time with Waze valued at between $800 and $1 billion.

Waze is a navigation app, driven by a user generated map, that gathers traffic and other road data from its user base. Users can share real-time information on traffic jams and other hazards.

Waze is already a Facebook partner, their app allows users to share data with Facebook friends. Waze reports it has a user base of 45 million drivers world-wide.

Source: Reuters

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Posted on Thursday, May 09 @ 12:17:34 UTC by Darren Griffin


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