Why Google Wanted Waze: The Local Ad Market Is Going Mobile
Posted in: UncategorizedAfter acquisition talks between Facebook and social driving app Waze broke down last month, Google has snapped up the Israeli startup that has gained popularity by having people crowdsource traffic conditions as they use the app to navigate.
A Google spokesperson said Waze will remain a standalone app but declined to disclose the deal’s price. Israeli publication Globes reported on Sunday that Google would pay $1.3 billion for the app, and The New York Times reported on Tuesday its cost was $1.03 billion.
“We’re excited about the prospect of enhancing Google Maps with some of the traffic update features provided by Waze and enhancing Waze with Google’s search capabilities,” Google’s VP-geo Brian McClendon wrote in a company blog post announcing the acquisition.
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