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You are here: MacNN Forums > News > Tech News > Facebook reportedly in talks to acquire Waze with near-$1 billion bid

Facebook reportedly in talks to acquire Waze with near-$1 billion bid
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May 9, 2013, 12:45 PM
Crowdsourced traffic and navigation app service Waze may be acquired by Facebook, according to a report. The discussions between Waze and Facebook come months after a possible acquisition offer from Apple and appears to be reaching the same financial levels as the billion-dollar Instagram deal in April last year.

The report by Calcalist claims the discussions have been going on for the last six months, and a period of due diligence is under way. It is estimated that the deal is worth between $800 million and $1 billion, with sources of TechCrunch apparently confirming the pricing, with the main issue being whether Waze should be kept in Israel or moved to the United States, similar to the acquisitions of Snaptu and Face.com.

The combination of Waze and Facebook doesn't initially appear to be that useful to either company, as Facebook does not currently offer a mapping product for Waze to work upon, but the social network may be attracted to it as part of its ongoing push into the mobile space.

The earlier attempt by Apple to pick up Waze allegedly reached the point where the offer reached $500 million, but Waze wanted around $750 million. Reports at the time suggested the company was valued at $200 million during its last funding round, with investors aiming for a $1 billion buyout. The attempted acquisition was a logical one at the time, with some Waze data being used in iOS 6 Maps.
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May 9, 2013, 02:15 PM

Waze didn't want to sell to Apple because they didn't have enough Jews on their board of directors .... but the FaceBook deal will go through, I'm sure :-)

I don't think it would have been a good purchase for Apple anyway .... I think Apple should buy Navteq from Nokia .... it's a FULL mapping solutions, with their own tiles, vehicles on the road, and transit maps. Nokia is really hurting for money, and they paid $8B for it, so I'm sure they could use the $8B now ....
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May 9, 2013, 03:38 PM
Lovely anti-semitic, racist comments from shawnde...
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May 9, 2013, 04:02 PM
No doubt, ZinkDifferent...what was the need for that unnecessary comment?!

That said, I do wonder what the worth of Waze really is? $1 billion seems a good bit over the top.
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May 9, 2013, 10:10 PM
Facebook is desperately trying to find something it can use to justify its stock price before the remaining investors bail and they are bought for peanuts by either Google, Apple, or Microsoft. (Hence the recent extra dose of ads -- which partially backfired on them because the extra ad revenue was offset by losing a bunch of users who hated the way it was implemented, although I suspect they made enough money to justify it short-term.) They have no real clue how they would use this, exactly.
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