Google to acquire Waze – Social Mapping Service for more than $1 Billion

Google-Purchase-Waze

Google is on its way to buying Waze, the free map application for mobile devices. Waze, an Israeli company that has unique mapping technology, has been sought out to be purchased by Google for over $1 billion. Google plans to use Waze to help them become even stronger in the market for online maps.

Waze updates its maps thanks to volunteers for its user base, very similarly to the way volunteers contribute to Wikipedia. The move to buy Waze might just be a defensive move on Google’s part. Facebook had originally planned to purchase Waze for $1 billion, but Google has shown more interest.

Currently, Waze is unable to expand due to a lack in capital. They have not found a way to maximize their revenue with their maps. Google can definitely use this to their advantage. Although Waze is only a company of about 100 employees, their mapping technology is worth a tremendous amount to Google.

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