Facebook And Waze Talks Fall Apart
So far, all the talk of Waze, a free GPS navigation/traffic application, being acquired by Facebook, Google, or Apple has been premature. The most recent talks between Facebook and Waze just fell through, though many thought the two companies were made for each other. Speculation is running rampant about the reasons the acquisition fell through, but the actual circumstances are not clear. Still, the Facebook/Waze connection made sense, and Facebook investors are undoubtedly disappointed.
The Waze application is a locally based one that helps members of specific communities shorten their morning commute by receiving the latest in road conditions, traffic flow, and even police presence. Users pool their information about local conditions, which results in a more complete and helpful picture of traffic in real time. Ads for services also show users where the cheapest gas is located and where their morning coffee is on sale.
This app has become a sensation that is attracting a number of possible buyers, but so far, none of the big players has managed to come to terms with the Israeli-based company. Google may still be in the hunt, however, because it is reportedly still actively wooing Waze and its management. Though the financial community is surprised at the lack of a deal so far, it remains convinced that some sort of agreement will be finalized soon.
As of now, Waze remains an independent entity that has millions of devoted users. The popularity and originality of the application has a number of the big boys trying to acquire it, and even though the Facebook talks have fallen through, Google or some other monster company will undoubtedly be successful in acquiring Waze soon.
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