Get Ready Facebook, Google Also Reportedly Looking to Bid for Waze

By: Jeff Stewart  |   May 25th, 2013   |   Google, Mobile Apps, News, Social Media

Two weeks ago a report suggested that Facebook has approached social GPS app maker, Waze, with an attractive acquisition offer of about $1 billion but there were no confirmations from either of the two companies. However, now Bloomberg, a well-reputed news site, has reported that apart from Facebook several other big tech companies are interested in buying Waze and now Google is one of them, as it is seriously looking to bid for the startup. Now the navigation startup has some solid buyers which can offer Waze a decent amount of money. However, both Google and Facebook are not yet close to sealing a deal with Waze, as according to Bloomberg sources, the startup may look to ignite a “bidding war” in order to push its bidding beyond S1 billion. Here is the excerpt from Bloomberg’s report:

 

“Google Inc. (GOOG), maker of the Android operating system, is considering buying map-software provider Waze Inc., setting up a possible bidding war with Facebook Inc., people familiar with the matter said. Waze is fielding expressions of interest from multiple parties and is seeking more than $1 billion, said one of the people, who asked not to be identified because the talks are private. The Palo Alto, California-based startup might also remain independent, instead seeking to raise a round of venture capital financing, the people said.”

 

If Facebook manages to acquire Waze, the startup would provide the popular social networking site more opportunities to sell mobile advertisements. In addition, Waze would also provide better data to Facebook that will enable Mark Zuckerberg and company to have a good idea about the movement of their users. On the other hand, if Google manages to finalise the deal with the social GPS app maker then, it would assist the search engine giant to improve the social side of its latest edition of maps app.

 

However, at this stage it is important to signify that whether Facebook or Google gets a hold of Waze it could cause problems for Apple, as the iOS device maker buys data from the startup for its infamous Maps app that runs over iPad and iPhone. Bloomberg’s report also asserts that currently Apple is not a part of the acquisition talks with Waze. Nevertheless, for Waze things are still intact and if it manages to light up the “bidding war” then, the startup can expect to get more $1 billion for its acquisition.

 

Source: iPhoneinCanada, 9to5Google