Google mapping Waze takeover, says report
Google is considering a bid for the mobile mapping and navigation company, Bloomberg reports. Could this be a play to keep Facebook out of its domain?
Google may be driving forward with a plan to purchase Waze for $1 billion or more, according to a new report.
Bloomberg reported Thursday that Google is considering a bid for the mobile mapping and navigation company. The search giant perked up to the idea only after learning that Facebook was in talks to buy Waze, Bloomberg reported.
When reached for comment, Waze spokesperson Julie Mossler said that the startup does not comment on rumors or speculation.
Waze, founded in 2007, makes a mobile application for getting directions and routing around traffic with the help of other drivers. The app is used by 47 million people in 193 countries, and its secret sauce is that maps are powered by the people who use them. CEO Noam Bardin has said Waze is Google's only real competition on mobile.
The search giant's interest may be motivated by a desire to improve its own mapping products -- or maybe it would just prefer to keep mobile-revenue competitor Facebook out of its domain. Or both.
Still, it sounds as if talks are early-stage as Waze weighs a variety of options, which range from a sale to raising new funding.