Google considering Waze takeover - report

News Broadband Global 24 MAY 2013
Google considering Waze takeover - report
Google and other large tech companies are considering buying Israeli map software company Waze, setting up a potential bidding war with Facebook, people with knowledge of the matter told Bloomberg. Waze is seeking offers of over USD 1 billion, but could instead raise venture capital financing and remain private. Waze declined to comment. The company's technology improves driving directions by using information from online communities. Facebook has held talks with Waze about a potential purchase, according to previous reports. Waze's investors include Microsoft. The company raised USD 30 million in 2011 in a round led by Kleiner Perkins Caufield & Byers and Horizon Ventures Hong Kong. Earlier investors include Vertex Venture Capital, Magma Venture Partners and BlueRun Ventures.

Categories:

Internet,  Mobile

Companies:

Microsoft,  Facebook,  Google,  Waze

Regions:

Global

Tags:

IT - applications, Wireline, Wireless, Consumer, Location Based Services, M&A buyouts & divestments

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