Facebook is considering buying GPS company Waze for $800 million to $1 billion, Israeli daily newspaper Calcalist reports.
The talks are in an advanced stage Calcalist claims. The two companies started talking started six months ago, due diligence is underway and a term sheet was signed.
Waze, whose turn-by-turn navigation app uses crowdsourcing to gather real-time conditions on the road, has had 44 million users in April 2013.
The two companies are partners; Waze already lets users share their drive with Facebook friends. Buying a social, mobile app with a strong user base makes sense for Facebook. If the acquisition happens it’ll be interesting to see what Facebook’s plans are in the GPS/location space.
Report: Facebook Looking to Buy Waze for $1 Billion
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