Google is Close to buy Waze for $1.3 Billion [Reports]
According to reports, Google is now close to buy social mapping firm Waze for $1.3 billion. As Israeli newspaper has reported this today.But the report did not reveal any source for this news.
Last month, we reported that Facebook is bidding on Waze for up to $1 billion. But Google was also interested in Waze. Report claims that the main reason behind the Google’s success in the deal is that it already has an office in the country. So, Waze employees can continue their work in Israel that was not possible with Facebook.
Google already has 2 acquisitions in Israel. Back in 2010, Google acquired Website gadget developer Labpixies for $25 million and interactive video-clip developer Quiksee for $10 million.
Waze is a crowd-sourced mobile navigation app for mobile devices that shows traffic information based on its 47 million members location. Waze was founded in 2009. In October 2012, it announced a $30 million financing round from Horizons Ventures, Kleiner Perkins Caufield & Byers, and iFund
Apple also rumored to approach Waze earlier this year but Apple’s CEO denied the rumors few days back at D11 conference.
At this moment, no one from Waze or Google is available to comment on the report. We are trying to get more regarding the rumors. Check back to get more information.