According to several reports, Facebook is in talks to buy an Israeli startup called Waze for $1 billion.
Waze makes a "social" mapping app for smartphones. It was founded in 2009, and it has been backed by investors that include Horizons Ventures Hong Kong and Kleiner Perkins.
Last July, when Waze hit 20 million users, this is how BI's Alyson Shontell described the service:
Waze relies on the community to give real-time traffic reports. If a user is on Waze while driving and hits traffic, a red line will appear behind the vehicle on Waze's map to alert others in real time. Drivers can take pictures of accidents so other drivers will know why they're not moving. They can also alert other drivers of upcoming speed traps.
Why does Facebook want to buy a mapping app?
We asked a few industry sources.
Three came up with interesting answers. Full story...
Related posts:
Waze makes a "social" mapping app for smartphones. It was founded in 2009, and it has been backed by investors that include Horizons Ventures Hong Kong and Kleiner Perkins.
Last July, when Waze hit 20 million users, this is how BI's Alyson Shontell described the service:
Waze relies on the community to give real-time traffic reports. If a user is on Waze while driving and hits traffic, a red line will appear behind the vehicle on Waze's map to alert others in real time. Drivers can take pictures of accidents so other drivers will know why they're not moving. They can also alert other drivers of upcoming speed traps.
Why does Facebook want to buy a mapping app?
We asked a few industry sources.
Three came up with interesting answers. Full story...
Related posts:
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