Facebook Prepares $ 1 billion for The Acquisition of Waze

Facebook is currently in talks “serious” to acquire social navigation application Waze. Facebook put up the funds ranges from 800 million to 1 billion U.S. dollars.

According to a separate report from the media business The Wall Street Journal and Calcalist, Thursday (09/05/2013), Facebook saw enormous potential if successfully acquired Waze. Therefore, Waze is known as a pioneer of social navigation application that has the location data.

Waze can give directions gradually. He also served as a place where users can report traffic conditions, ranging from congestion, accidents, repairs, until the road closure. This allows other users to know the road conditions will be passed based on the data reported.

Facebook plans to acquire Waze news is not the first time. In August 2012, Facebook executives reportedly met with the founder of Waze. However, there has been no further information about the outcome of the meeting.

Waze developed by Waze Inc. origin Israel in 2008. This is the company founder Uri Levine, Ehud Shabtai, and Amir Shinar. Until late 2011, Waze has a staff of about 80 people. A total of 70 employees based in Israel and 10 employees in Palo Alto, California.

Waze app has been used by 20 million users in 45 countries. Waze is available for iOS devices, Android, BlackBerry, Symbian, Maemo, and Windows Mobile.

Waze also partnered with Apple to provide traffic information to the new digital map application in iOS 6.

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