Google acquires social mapping company Waze for $1.3 billion

Google finally lands the Waze deal, acquires social mapping company for $1.3 billion.

@CharlesJGantt
Published Tue, Jun 11 2013 12:15 PM CDT   |   Updated Tue, Nov 3 2020 12:22 PM CST

And for weeks now it is that apparent that social mapping software company Waze would be acquired by one of the Silicon Valley giants. Google, Apple, Facebook, and Microsoft were all tossing their hats into the ring to acquire Waze, but only one can emerge victorious.

Google acquires social mapping company Waze for $1.3 billion | TweakTown.com

This morning Google has announced that it has acquired the Israeli company for a reported $1.3 billion. Google says that the Waze product development team will remain in Israel and operate separately for the time being and added "We'll also work closely with the vibrant Waze community, who are the DNA of this app, to ensure they have what's needed to grow and prosper."

For those unfamiliar with Waze, it is a social traffic and navigation app that is based on a large community of tens of millions of drivers around the world who share real-time road and traffic info with other Waze users. The app has just under 50 million users which is up over 10 million since February.

NEWS SOURCE:thenextweb.com

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

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