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Wireless

Facebook to buy navigation app Wave - report

Thursday 9 May 2013 | 16:54 CET | News
Facebook is in advanced talks to buy navigation and traffic congestion app developer Waze for up to USD 1 billion, according to multiple reports from Israel, where Waze is based. Apple was earlier rumoured to be interested in Waze, at a price tag of around USD 500 million. The Waze app provides GPS navigation and crowd-sourced updates on congestion, police, traffic cameras, accidents and road hazards. The company has more than 34 million users and expects to reach 70 million by the end of the year. Founded in 2009, Waze raised USD 30 million in October 2012 from Li Ka-Shing's Horizons

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Categories: Mobile & Wireless
Companies: Apple / Facebook / Microsoft / Qualcomm
Countries: Israel / World
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