Report: Facebook Looking to Buy Waze for $1 Billion

Facebook is considering buying GPS company Waze for $800 million to $1 billion, Israeli daily newspaper Calcalist reports.

The talks are in an advanced stage, Calcalist claims. The two companies started talking started six months ago, due diligence is underway and a term sheet was signed

Waze, whose turn-by-turn navigation app uses crowdsourcing to gather real-time conditions on the road, has had 44 million users in April 2013

The two companies are partners; Waze already lets users share their drive with Facebook friends. Buying a social, mobile app with a strong user base makes sense for Facebook; if the acquisition happens it'll be interesting to see what Facebook's plans are in the GPS/location space Read more...

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