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Google reportedly mulling $1B Waze bid, could spark bidding war with FacebookGet the lowest prices anywhere on Macs and iPads with exclusive coupons: Apple Price Guide updated May 25th. (Get the lowest prices anywhere)

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Thursday, May 23, 2013, 08:48 pm

Google reportedly mulling $1B Waze bid, could spark bidding war with FacebookBy AppleInsider Staff

According to Bloomberg sources, Google is looking to throw in a $1 billion bid for Waze, possibly portending a bidding war between the search giant and Facebook, which is also rumored to be eyeing an acquisition of the social mapping service.

People familiar with the matter told Bloomberg that Waze is managing "expressions of interest" from multiple parties, and is targeting a selling price of at least $1 billion. Alternatively, the firm may seek venture capital financing in order to stay independent.

Waze

A report earlier in May claimed Facebook was in talks to pick up Waze, with the purchase positioning the social network to enter an already cramped market led by Google Maps. Facebook's bid was also said to be around $1 billion.

The sources went on to say that Google only approached Waze after chatter of the Facebook bid went public, suggesting the tech monolith is looking to block Facebook from entering the mapping game.

The publication notes that a deal is far from being reached, and talks may fall apart as Waze's user base is substantial enough to raise funding privately. As of April, Waze had over 40 million people using its service.

In January, Apple too was rumored to be interested in purchasing the startup to bolster its iOS Maps app, but the claims turned out to be false. Sources on Thursday confirmed the Cupertino, Calif., company is not currently part of the talks.

As for Waze's existing investors, the company managed to successfully raise $30 million in a 2011 funding round led by Kleiner Perkins Caufield & Byers and Horizons Ventures Hong Kong. Microsoft is also said to be an investor, as is Magma Venture Partners, Vertex Venture Capital and BlueRun Ventures.

The iOS app is free to download from the App Store, and features TomTom-like functionality like automatic reporting of traffic data. Social aspects include community-generated real-time routing, live maps and an accident reporting system, among others standard navigation features.Tags:GoogleFacebookMapsWazeJump to comments (39)Categories:General(function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/all.js#xfbml=1"; fjs.parentNode.insertBefore(js, fjs);}(document, 'script', 'facebook-jssdk'));Tweet!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Pin It

On Topic: GeneralFoxconn may sell own branded accessories after Apple profits dipReview: Scosche enters car radio fray with iOS connected controlFREQWorking Apple I fetches $671,400 in German auctionGoogle's Motorola issues second appeal of dismissed ITC case against AppleSouth Australia's first Apple Store draws line hours ahead of opening [update: photos and video]Today's' HeadlinesFoxconn may sell own branded accessories after Apple profits dipApple's iPhone sales tactics in Europe under antitrust investigationRelated ArticlesFacebook reportedly in talks to buy social mapping service WazeApple may acquire crowd-sourced traffic and navigation service WazeApple-Waze social mapping acquisition 'not happening'Apple and Google reportedly partners in $500M bid for Kodak patentsApple Maps directions beat Google Maps, Waze in pundit's head-to-head testPrevious Comments View Allhill602013/05/23 08:57pm

...but, but, but Google maps are already perfect.

Why would they need to buy another mapping company?

realwarder2013/05/23 09:23pm

Quote:Originally Posted by hill60? View Post

...but, but, but Google maps are already perfect.

Why would they need to buy another mapping company?

I was thinking similar.? Not that Google maps was perfect, but what was the point of them buying something else?

buckalec2013/05/23 09:25pm

heavy rain in NYC ?today - roads and flooding everywhere, did a control at 5:56pm ET (so sick of the google PR spin map spin machine and sad pathetic "journalists"?) and saved to photos. Once again, since the beginning, I used Apple Maps to get me home. Clean & simple. Tufte would be proud.

desuserign2013/05/23 09:35pm

Typical of Google &/or Facebook to spend a billion for something worth orders of magnitude less.

Remember Motorola?

theunfetteredmind2013/05/23 09:46pm

Quote:Originally Posted by realwarder? View Post

I was thinking similar.? Not that Google maps was perfect, but what was the point of them buying something else?

Agree. What would Waze have that they (1) want and (2) are willing to pay that much to get? They would have to know Apple isn't interested at that price point and I can't imagine it would be just to keep it out of Facebook's hands? Are they really a threat? What even would Facebook do with them?

mstone2013/05/23 09:49pm

Quote:Originally Posted by TheUnfetteredMind? View Post

Quote:Originally Posted by realwarder?

I was thinking similar.? Not that Google maps was perfect, but what was the point of them buying something else?

Simple Google wants to keep it out of the hands of anyone else as it could rival their own offerings. Purely defensive.

jungmark2013/05/23 09:58pm

Google, Don't make me have to uninstall Waze!

jivanile2013/05/23 10:01pm

Does anyone else think the "but, but, but" thing needs to stop. ?It seems to come up at least once in every thread, sometimes more. ?It's overplayed so please stop.

slurpy2013/05/23 10:14pm

I think Apple needs this, or foursquare.
Buying foursquare would be amazing.

jsmythe002013/05/23 10:20pm

side bar: what i think apple needs to do is buy a carrier. or bandwidth and have mobile services thats caters specifically to ios

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