Reports: Facebook Is Buying Social Mapping/Traffic App Waze For Up To $1B To Court Mobile Users

Smart move by Facebook! Great app!

TechCrunch

Facebook appears to be close to making another billion-dollar acquisition to once again ramp up its mobile efforts: according to three reports in the Israeli press at Calcalist and sister publication Ynet and The Marker (all in Hebrew), Facebook has approached Waze, the social mapping and traffic app maker, and is now in advanced due dilligence on a deal that Calcalist puts at between $800 million and $1 billion. The negotiations between the social network and crowdsourced mapping app apparently began six months ago.

We have been digging too and have picked up confirmation from a source that both sides have privately confirmed that the deal is happening, and that the pricing reported first by the Calcalist is accurate. The main issue right now, the source said, is whether to keep Waze in Israel or take it to the U.S., as Facebook did with two previous Israel acqusitions. Those were…

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About donjduncan

Application/Technology Sales Engineer: BYOD,Cloud,Virtualization,Application Transformation,Mobility,Process,and Automation. Currently looking for new opportunities. Linkedin: http://www.linkedin.com/in/donjduncan Twitter: donjduncan
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