Report: Google, Facebook May Start Bidding War for Waze

Tumblr isn't the only sought-after billion-dollar startup in town

Waze, a popular mobile mapping app, has reportedly been in talks with Facebook for several weeks about a possible acquisition for as much as $1 billion. Now, Bloomberg reports that other large tech companies, including Google, are considering a bid for the startup

Citing sources familiar with the situation, Bloomberg reports that Google approached Waze about a possible bid after the details of Facebook's interest in the startup became public. Waze is reportedly looking for an acquisition price of more than $1 billion. Neither Google nor Facebook are said to be close to sealing the deal yet, and it's certainly possible that Waze is trying to incite a bidding war to drive up the price, or that it may simply back away from talks and use the press as leverage for more venture funding. Read more...

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