Facebook and Social Mapping Giant Go Their Separate Waze
Just last week, MMi's Akshay Masand
reported that Google is reportedly putting $1 billion on the table in hopes of securing an acquisition deal with Waze before the company can accept a competing offer from social networking giant Facebook.
As of Wednesday, however, Google’s chances of acquiring Waze have improved tremendously - mostly as a result of Facebook reportedly dropping out of contention.
Owners of the Israel-based social mapping service are apparently no longer in talks with Facebook, according to AllThingsD. Although Apple was among the companies initially interested in Waze, the Cupertino-based tech behemoth isn't expected to return to negotiations any time soon, if at all.
Based on the unconfirmed chatter behind word of Facebook's withdrawal from acquisition talks, it sounds like the two companies failed to reach an agreement, at least in part, because the Waze team was reluctant to relocate to the United States.
Neither Facebook or Waze has publicly commented yet on this developing story.
Source: All Things D