Google has bought Waze, the traffic map app that has more than 47 million users. It was being said that Google bought Waze for a price of $1.3 Billion, but trusted sources close to the deal said that the buying price was $1 Billion, not $1.3 Billion.
Google has struck another good deal, this time by buying Waze for a price of $1 Billion. For those who do not know Waze, it is a traffic map app which uses real time traffic information from users. This info helps their members to go from one place to another while avoiding traffic and accidents etc.
Now that Google has acquired Waze, many of its features will be integrated into Google Maps.
The team behind Waze was located in Israel, and as of now the team will function from the same location. Google might plan to shift this team, but there have been no such indications as of now. We doubt if Google would take such a step, since this was the reason why Facebook failed to acquire Waze.
Reports say that Facebook had planned to buy Waze for a price near about $1 Billion, but could not do so. The reason for the same is that Facebook insisted that Waze team should shift to US and work from Facebook headquarters.
And even though Facebook was not successful in acquiring Waze, it was not the only company who tried to do so. Apart from Facebook, even Apple and Yahoo were planning to buy Waze, but it was Google who won the battle in the end.
After finalizing the deal, Google posted the update on their official blog, and this is what the company had to say about the deal:
“To help you outsmart traffic, today we’re excited to announce we’ve closed the acquisition of Waze. This fast-growing community of traffic-obsessed drivers is working together to find the best routes from home to work, every day.”