Printed from http://www.electronista.com

Facebook reportedly in talks to acquire Waze with near-$1 billion bid

updated 12:44 pm EDT, Thu May 9, 2013

Crowdsourced navigation app may become part of Facebook mobile

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.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. shawnde

    Fresh-Faced Recruit

    Joined: 04-01-08

    Yeah,

    Waze didn't want to sell to Apple because they didn't have enough Jews on their board of directors .... but the FaceBook deal will go through, I'm sure :-)

    I don't think it would have been a good purchase for Apple anyway .... I think Apple should buy Navteq from Nokia .... it's a FULL mapping solutions, with their own tiles, vehicles on the road, and transit maps. Nokia is really hurting for money, and they paid $8B for it, so I'm sure they could use the $8B now ....

  1. ZinkDifferent

    Fresh-Faced Recruit

    Joined: 01-07-05

    Lovely anti-semitic, racist comments from shawnde...

  1. pairof9s

    Mac Enthusiast

    Joined: 01-03-08

    No doubt, ZinkDifferent...what was the need for that unnecessary comment?!

    That said, I do wonder what the worth of Waze really is? $1 billion seems a good bit over the top.

  1. The Vicar

    Junior Member

    Joined: 07-01-09

    Facebook is desperately trying to find something it can use to justify its stock price before the remaining investors bail and they are bought for peanuts by either Google, Apple, or Microsoft. (Hence the recent extra dose of ads -- which partially backfired on them because the extra ad revenue was offset by losing a bunch of users who hated the way it was implemented, although I suspect they made enough money to justify it short-term.) They have no real clue how they would use this, exactly.

Login Here

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

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Patriot Supersonic Rage XT 128GB USB drive

USB thumb drives are getting larger by the day, their growth speeding along with the availability and expansion of memory chips. But h ...

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Sponsor

toggle

Most Commented

 
toggle

Popular News