Facebook in talks to buy Waze for as much as $1 billion

“Facebook Inc is in talks to acquire Waze, a navigation app for mobile devices, in a deal that could be worth as much as $1 billion, according to people with knowledge of the matter,” Evelyn M. Rusli reports for The Wall Street Journal. “While these people characterized the discussions as serious, they cautioned that a deal may still fall apart.”

“For Facebook, Waze represents an opportunity to expand its mobile expertise and acquire a valuable asset in the mapping space,” Rusli reports. “The talks come as Facebook tries to coax its users to spend more time on its mobile applications, where it can serve more mobile ads.”

Rusli reports, “As Facebook nears the one-year anniversary of its May 2012 initial public offering, the company has been working to beef up its mobile offerings as users have migrated increasingly to its service on mobile devices. Facebook shares, which fell eight cents Thursday to $27.04, remain well below the company’s $38 IPO price.”

Read more in the full article here.

Related articles:
Will Apple top Facebook’s $1 billion bid for Waze? – May 9, 2013
Waze CEO: We assumed Apple Maps ‘wouldn’t be that good’ – April 16, 2013
Waze CEO: Apple Maps ‘would have been an amazing product’ two years ago – April 15, 2013
Apple’s Maps debacle give big boost to Waze – February 27, 2013
Apple did offer to buy Israeli startup Waze, but Waze politely declined, sources say – January 4, 2013
Tim Cook open letter: We fell short with new Maps app; we are extremely sorry – September 28, 2012
Waze CEO: Apple going ‘thermonuclear’ on Google Maps – June 15, 2012
Apple using Waze data in new iOS 6 Maps – June 13, 2012

14 Comments

  1. since i dont give a sht about facetwat
    i say buy the wazoo for double that

    if suckrman is such a great programmer built yr own os douche and then why not yr own map app too

    the home phone is positioned to fail
    gonna enjpy seein’ that

  2. Would make a lot more sense for the FB phone to do well in sales for a few quarters before they start dumping big bucks into bolstering acquisitions.

  3. This makes no sense what so ever… Facbook need maps? And they can’t use Google maps? And they are going to waste 1 billion on it? Like they wasted 1 freakin billion on a lame program for ioadif pictures… Unbelievable.

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