“There have been rumors for the past few months that a big tech firm is looking to acquire Waze, a popular traffic navigation app,” Laurie Segal reports for CNNMoney.

“Most recently, rumors that Google is interested in Waze have been making the rounds,” Segal reports. “But Apple and Facebook have also been named as possible bidders.”

Segal reports, “So why is there so much buzz about Waze? The company, which initially launched in Israel, provides crowdsourced information. Users can wave their hands over their mobile device while driving to vocally report traffic or hazardous conditions. Updating in real time based on that information, the app delivers accurate assessments of current traffic, road closures, and alternative routes efficiently. ‘What a lot of people don’t know about Waze is on the front end we’re an app, but we are also making our own maps. This is something very few people can do,’ said Di-Ann Eisnor, vice president of platforms and partnerships for Waze.”

Read more in the full article here.

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Apple did offer to buy Israeli startup Waze, but Waze politely declined, sources say – January 4, 2013
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