Why was Google willing to pay what several reports claim to be $1 billion or more for Waze? According to Waze CEO Noam Bardin, the answer is simple: As important is Google’s search product is to the Internet is as important as Waze is for searching the real world. “General navigation and maps, are really the ‘search’ for mobile,” Bardin told Forbes in a previously unpublished interview from January. While his comments didn’t pertain specifically to the Google deal, of course, they relate to the value Waze has to users and, ultimately, to Google. According to Bardin’s vision, people will “use a Google search bar to scour the web today, and Waze to search the real world tomorrow.” The CEO had plenty more to say in the interview, which is linked below, and Forbes’ unnamed sources claim that the Waze deal cost Google more than $1 billion.
Google on Tuesday confirmed that it has acquired social navigation company Waze. Earlier reports had suggested that Google offered to pay a whopping $1.3 billion to acquire the company, reportedly beating out both Apple and Facebook. Brian McClendon, Google’s vice president of geo-products, announced that for the time being, the Waze product development team will operate separately and will not be forced to relocate to Mountain View — which was a stumbling block during the negotiations between Waze and Facebook. The company said that it plans to integrate Waze’s traffic features into Google Maps, while continuing to work with and build the “vibrant Waze community.”
A number of companies including Apple and Facebook have reportedly been considering acquisitions of crowd-sourced mapping and navigation service Waze, but Google may have outspent them all. According to a report on Sunday from Israeli newspaper Globes, Google will announce this week that it has acquired Waze for a whopping $1.3 billion. The Israel-based startup was reportedly very close to a deal with Facebook, however a dispute over whether or not to close Waze’s research and development facilities in Ra’anana, Israel stalled the deal. It is unclear whether or not Google plans to maintain Waze’s Israeli facilities, however a subsequent report from AllThingsD states that Google intends to keep Waze’s service separate from its own mapping solutions for the time being.
It had been reported that Facebook was looking to acquire social navigation company Waze for between $800 million and $1 billion. The talks were said to have hit a major roadblock in recent weeks, however, as Facebook was reportedly interested in shutting down Waze’s research and development center in Israel and transferring employees to the United States. According to AllThingsD, the talks have dissolved in recent days and the billion-dollar deal may no longer be on the table. The latest report reiterates earlier claims that Waze was uncomfortable having its employees transferred to work at Facebook’s headquarters in the United States. A deal with Waze would help Facebook continue its push into mobile, while complementing its already popular photo and messaging applications.
Interest in social mapping and navigation provider Waze is reportedly heating up, with Google and several other “large tech companies” currently holding talks with the Israel-based company. Bloomberg on Friday reported that Google is considering a bid that exceeds Facebook’s earlier offer, 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 — Facebook and Waze have reportedly just signed an agreement that prevents Waze from negotiating with other companies for the time being.
Facebook’s bid to buy social navigation company Waze has seemingly hit a serious snag that has stalled the deal for the time being. Calcalist, the Israeli newspaper that first broke news of Facebook’s plans to acquire Waze, has followed up its original report with news that the two companies are having problems coming to terms in a few key areas. More →
Following Facebook’s $1 billion acquisition of popular photo-sharing service Instagram, the company is reportedly now considering another billion-dollar deal. According to Israel-based newspaper Calcalist, Facebook is in the late stages of acquisition talks with Israeli social navigation service Waze and the deal could be worth between $800 million and $1 billion. The talks reportedly began six months ago and due diligence is now underway. TechCrunch previously reported that Apple was in talks to acquire Waze, but then later debunked its own report in a subsequent post.
It isn’t often you hear about a small startup rejecting a buyout offer from the world’s most valuable company, but times may be changing. Earlier rumors had claimed a deal was in the works for Apple (AAPL) to acquire social navigation startup Waze in a desperate effort to improve its widely-panned Maps application. Waze was said to be seeking a hefty $750 million payout from Apple and is now believed to have rejected the company’s offer, according to The Next Web. Despite the fact that Waze was valued around $200 million in its last round of funding, investors were reportedly aiming for a higher offer, possibly in the $1 billion range. The Next Web’s sources claim the company has received more than one acquisition offer in the past year, but it has declined them all and is looking to “build something big and not look for a quick exit.” Waze is believed to have nearly 30 million users, however the company is having trouble monetizing the service.
Despite earlier rumors that claimed a deal was in the works, CNET and TechCrunch are both reporting that Apple (AAPL) has no plans to acquire Waze. It was previously reported that Apple was considering a buyout of the social navigation startup in an effort to improve its widely-panned Maps application. A second report suggested that negotiations between the two companies were further along than once thought and that Waze was seeking a hefty $750 million payout from Apple. According to MG Siegler of TechCrunch, however, “there is no deal happening, at least not now or anytime soon.”
Following multiple reports from Wednesday that suggested Apple (AAPL) has an interest in acquiring social navigation service Waze, a new report suggests that negotiations between the two companies may be further along than we initially thought. Waze, a voice-guided navigation service provider that enhances its product by collecting and analyzing data from active users, is apparently receptive to the idea of being acquired by Apple but it is holding out for a hefty $750 million payday, TechCrunch reports. There is still a fair amount of ground to make up according to the report, as Apple has supposedly offered $400 million plus another $100 million in incentives.
Less than a month after rumors of a potential TomTom acquisition swirled, Apple (AAPL) is now reportedly considering a buyout of social navigation startup Waze in an effort to improve its much-maligned Maps application. TechCrunch reported on Wednesday that “there are rumours flying around that Apple is sniffing around Waze with a view to a possible acquisition,” though the source of the rumors is unclear. A similar report was published by Israeli news site NewsGeek. More →
In the latest version of Apple’s (AAPL) mobile operating system, the company has replaced Google Maps with its own service. Initial previews of the feature were critical and most agreed that Apple had a long way to go if it was looking to dethrone Google (GOOG). Business Insider spoke with Waze CEO Noam Bardin about the iPhone’s new turn-by-turn directions, and the executive offered little praise. Waze, along with TomTom and some other companies, provides traffic information for the new mapping service, although Bardin’s comments suggest that Apple is relying predominantly on TomTom. More →
Facebook (FB) may be interested in acquiring or possibly collaborating with the popular turn-by-turn navigation app creator Waze. According to the Israel-based publication Globes, executives from the social networking giant recently sat down with executives from Waze, however the purpose of the talks is unknown. It has long been rumored that Facebook is interested in entering the mobile space with its own “Facebook Phone,” making a partnership or even an outright acquisition of the navigation company a possibility. Waze has raised $67 million since being founded in 2007 and has more than 20 million subscribers across 45 countries. The company has previously partnered with Apple (AAPL) to provide traffic information for the new Maps application in iOS 6. More →