Is Facebook blocking Google’s 1bn bid for Waze?

28/05/2013

Social media mapping firm Waze has become the target of a bidding war between Google and Facebook, according to news reports.

Bloomberg reports that Google is considering a bid that exceeds a previous offer from Facebook’, which reportedly fell between $800 million and $1 billion.

Earlier rumors suggested Facebook and Waze’s negotiations had stalled due to a disagreement over whether or not Waze’s Israeli research and development center would remain open.

According to a follow-up from Israel-based newspaper Calcalist, which first broke the story that Facebook was in talks to acquire Waze, Google may face some trouble if it’s serious about a possible deal.

The paper reports that Facebook and Waze have reportedly just signed an agreement that prevents Waze from negotiating with other companies for the time being.

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

This would be Facebook's third acquisition in Israel. It bought Snaptu in 2011 for $70 million and Face.com in 2012 for $60 million.

In the last year, Waze tripled its user base to 45 million and in March alone, 1.5 million users downloaded the free mobile navigation app.

<< Back to today’s Digital Intelligence news

Copyright ©2000-2019 Digital Strategy Consulting Limited | All rights reserved | This material is for your personal use only | Using this site constitutes acceptance of our user agreement and privacy policy