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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...
05-29-2013, 12:16 PM #1
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 nor Waze has publicly commented yet on this developing story.
Source: All Things D
Last edited by Michael Essany; 05-29-2013 at 04:14 PM.
05-29-2013, 12:28 PM #2
*phew* Waze just avoided a huge disaster... lol
05-29-2013, 01:28 PM #3
As a Californian and an Israeli, I can understand why Waze didn't want to relocate it's 100 person staff to the Bay Area (per Facebook's contractual terms). As wonderful as No Cal is and bad as the media continues to paint Israel, it really is a perfect place to live
05-29-2013, 03:01 PM #4
I wouldn't want to leave Israel either.
05-29-2013, 04:12 PM #5
"Neither Facebook NOR Waze."
Grammar. It's not that hard.
05-30-2013, 08:11 PM #6
Funny since Waze just updated their app to include Facebook events.