Google in bidding war with Facebook over Waze

Search giant considering purchase of social navigation company.

navigation

Google is said to be considering a bid for social navigation firm Waze. Any attempt at a deal could bring the search giant into a bidding war with Facebook, which is said to be in advanced talks with the Israeli company.

Sources familiar with the matter told Bloomberg reporters that a deal was possible. Waze is thought to be courting a number of different companies and is said to be putting a price tag on itself of $1 billion (662 million).

Advertisement - Article continues below

Google could integrate Waze into its own mapping software and take out a competitive threat

Waze spokesperson Julie Mossler said the firm does not comment on rumors or speculation.

Waze may also stay in private hands instead by raising another round of venture capital. In 2011, Waze managed to successfully raise $30 million (19.86 million) in a 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 firm provides mapping and navigation apps on mobile devices that use information from other users to improve driving directions. The service currently boasts around 40 million users and was set up in 2007.

Advertisement
Advertisement - Article continues below

Facebook was thought to be lining up a possible purchase of the firm. It could integrate its social network into the navigation service it much the same way it does through its partnership with music streaming service Spotify. It has been suggested that the leak of the original interest by Facebook in the company was done to provoke interest from other firms in Waze, such as Google, and start a bidding war.

Advertisement - Article continues below

However, Google could integrate the tool into its own mapping software and take out what could be perceived as a competitive threat. According to sources, Apple is not taking part in any discussions over the firm, despite false rumours in January that it too was interested in buying to company in a bid to boost its unloved mapping efforts.

Featured Resources

The case for a marketing content hub

Transform your digital marketing to deliver customer expectations

Download now

Fast, flexible and compliant e-signatures for global businesses

Be at the forefront of digital transformation with electronic signatures

Download now

Why CEOS should care about the move to SAP S/4HANA

And how they can accelerate business value

Download now

IT faces new security challenges in the wake of COVID-19

Beat the crisis by learning how to secure your network

Download now
Advertisement

Recommended

Visit/software/operating-systems/355947/apples-ios-14-to-include-a-built-in-translator-for-safari
operating systems

Apple’s iOS 14 to include a built-in translator for Safari

5 Jun 2020
Visit/marketing-comms/social-media/355910/facebook-launches-manage-activity-for-archiving-and-deleting
social media

Facebook launches Manage Activity for archiving and deleting old posts

3 Jun 2020
Visit/marketing-comms/communications/355905/satirical-websites-target-mark-zuckerberg-with-fake-news
communications

Satirical websites target Mark Zuckerberg with fake news

3 Jun 2020
Visit/marketing-comms/communications/355888/facebook-employees-stage-virtual-walkout-due-to-companys
communications

Facebook staff stage virtual walkout over firm's handling of Trump’s posts

2 Jun 2020

Most Popular

Visit/operating-systems/ios/355935/apple-confirms-serious-bugs-in-ios-135
iOS

Apple confirms serious bugs in iOS 13.5

4 Jun 2020
Visit/mobile/5g/355911/the-uk-pivots-to-japan-for-5g-equipment
5G

The UK looks to Japan and South Korea for 5G equipment

4 Jun 2020
Visit/security/ransomware/355945/new-ransomware-uses-java-to-target-software-organisations
ransomware

Tycoon ransomware discovered using Java image files to target software firms

5 Jun 2020