Wednesday, May 29, 2013

Facebook - Waze acquisition talks break down

Talks between Facebook and Waze over a possible acquisition of the social mapping app have broken down, according to a report on Wednesday. A report had emerged, earlier this month, saying Facebook was looking into a possible $1 billion deal with Waze.

One sticking point was mentioned at that time, however: moving the Waze team, which is mostly based in Israel, to the U.S. and Facebook's Menlo Park, Calif., headquarters. That reason was cited in the new report, although other, undisclosed issues between the two firms, were also said to be involved.

Waze seemed like a logical acquisition for Facebook. Although mostly a mapping and navigation app, the service uses on crowdsourced traffic, accident, and police data from its 40-million-plus users to assist drivers in finding the quickest routes. In addition, as users make reports and run the software, they gain points and levels, which turns the app into a sort of game or competition.

Google, Nokia and Apple all offer mapping services, but Facebook does not.

Last week, it was rumored that other companies besides Facebook -- including Google -- were bidding for Waze. None of the other companies were named, and all this is speculation and rumor.

None of the bidders were said to be close to a deal, although Facebook has reportedly been negotiating with Waze for months.

Still earlier, it was rumored that Apple might by Waze to fix its maligned Maps app, but the report from last week said that Apple was not among the current bidders. In fact, at the D: All Things Digital conference in Rancho Palos Verdes, Calif., on Tuesday, Apple CEO Tim Cook publicly denied that Apple had made a bid for Waze.



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