Facebook in talks to buy Waze for $1B - Israel Business, Ynetnews
 
ynetnews
web


   Israel News

Israel News
World News
Israel Opinion
Jewish
Israel Business
Israel Culture
Israel Travel
Calcalist Exclusive

What will become of Waze’s development center?
What will become of Waze’s development center? 
 
Facebook CEO Mark Zuckerberg Photo: Reuters
Facebook CEO Mark Zuckerberg Photo: Reuters
 
 

Facebook in talks to buy Waze for $1B

Social network giant, in pursuit of larger customer base for its cellular activity, is in final stages of negotiations to buy Israeli startup company

Golan Hazani, Calcalist
Published: 05.09.13, 09:24 / Israel Business

VIDEO - Israeli business daily Calcalist has revealed that Facebook is in talks to acquire Israeli startup company Waze for an estimated $800 million to $1 billion. The deal is currently in advanced stages and due diligence is underway after the term sheet was signed.

 

Negotiations in fact began six months ago. On January, reports alleged that the developer of the Waze free mobile navigation application was in talks with Apple, which the American technology giant denied.

 

Video courtesy of jn1.tv

 

Estimates followed that Waze was conducting acquisition talks with companies the likes of Microsoft and Facebook. However no de facto negotiations between Waze and Facebook were held at the beginning of the year, but both parties met during three visits to Israel by Facebook representatives.

  

Target Reached
Barcelona: Waze named Best Mobile App / Israel Wullman
After attracting 40 million users, Israeli navigation software beats some of world's most famous apps in prestigious Global Mobile Awards competition
Full story

Waze and Facebook partnered in October 2012 when Waze released its updated version that interfaces with Facebook. The interface allows users to share their drive with their Facebook buddies.

 

The deal would be one of Facebook’s largest acquisitions, aside from Instagram, which it acquired in 2012 for a similar sum, and its third acquisition in Israel – preceded by the acquisition of Snaptu in 2011 for $70 million and Face.com in 2012 for $60 million.

 

Facebook wound up both companies and relocated their employees to its headquarters in San Francisco, New York and London. It is not yet clear what will become of Waze following the deal.

 

In the past year, Waze tripled its user base from 15 million to 45 million, and last March alone 1.5 million users downloaded its free mobile navigation application. About a third of its users live in the United States, and as of now its popularity in the West is second only to Google Maps, whereas in developing markets such as Brazil, Uruguay and Indonesia it surpassed Google by far.

 

Assaf Gilad contributed to this report

 

This report was originally published in Hebrew by Calcalist

 

 

commentcomment   PrintPrint  Send to friendSend to friend   
Tag with Del.icio.us Bookmark to del.icio.us



 
10 Talkbacks for this article    See all talkbacks
Please wait for the talkbacks to load

 

RSS RSS | About | Contact Us | Privacy Policy | Terms of use | Advertise with us | Site Map

Site developed by  YIT Advanced Technology Solutions

 
פיקוד העורף התרעה במרחב:
    למציאת מרחב ההתגוננות האישי שלכם »
    פיקוד העורף מזכיר: יש לחכות 10 דקות במרחב המוגן לפני שיוצאים החוצה
    רשימת יישובים במרחב