Facebook To Buy Satellite Navigation Company Waze

Thursday, May 9, 2013

Facebook To Buy Satellite Navigation Company Waze

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Facebook is reportedly in talks to buy Israeli mobile satellite navigation start-up Waze for $800 million to $1 billion, business daily Calcalist reported on Thursday.

Waze uses satellite signals from members' smartphones to generate maps and traffic data, which it then shares with other users, offering real-time traffic info.

Waze did not comment on the report.

Waze and Facebook partnered in October 2012 when Waze released its updated version that allows users to share their drive with their Facebook friends.