Waze Reportedly Talking to Google Now
The two are in talks that could flounder at any point according to Reuters
By: Maureen O'Gara
Jun. 3, 2013 08:45 AM
Google is reportedly hot to mate with Waze, an Israeli map merchant that's got a mobile satellite navigation application that renders real-time traffic.
The two are in talks that could flounder at any point according to Reuters. But the first talks to hit the rocky shoals were reportedly with Facebook, which was reportedly willing to pay a billion dollars for the crowd-sourced service, which gets its real-time traffic information from the smartphones of 47.5 million members, something Facebook could conceivably do on its own with its million users.
Waze got a term sheet from Facebook according to the Israeli paper Calcalist, along with the demand that the Waze team relocate to California, which stalled their talks.
Facebook was reportedly thinking about offering a billion dollars for the joint,
Google then supposedly horned in wanting to prevent the company from falling into rival hands to protect Google Maps and Facebook dropped out.
Apple also reportedly looked at Waze but wasn't interested.
Reuters says "mapping services are among the five most-used applications on smartphones and are crucial to engaging and retaining mobile users."
Owning, rather than licensing, a mapping service lets the product be tailored and personalized for users.
Waze has raised $67 million in venture capital from Kleiner Perkins, Blue Run Ventures, Hong Kong media and real-estate mogul Li Ka-shing's Horizon Ventures and Qualcomm. Microsoft owns 10.2% of the joint according to Calcalist.
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