Facebook Is Close To Buying Israeli Startup Waze For $1 Billion
REUTERS/Robert Galbraith
Due diligence is underway after a term sheet was signed, Calcalist said, adding that talks began six months ago.
Waze uses satellite signals from members' smartphones to generate maps and traffic data, which it then shares with other users, offering real-time traffic info.
Officials at Waze declined to comment on the report.
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
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, Calcalist said.
(Reporting by Tova Cohen; Editing by David Cowell)
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- India not benefiting from democratic dividend; young have a Kohli mentality, says Raghuram Rajan
- Indo-Gangetic Plains, home to half the Indian population, to soon become hotspot of extreme climate events: study
- 7 Vegetables you shouldn’t peel before eating to get the most nutrients
- Gut check: 10 High-fiber foods to add to your diet to support digestive balance
- 10 Foods that can harm Your bone and joint health
- 6 Lesser-known places to visit near Mussoorie