Google Could Enter Bidding War over Map-Software Provider Waze
By connecting drivers to one another, Waze aims to help people create local driving communities that work together to improve the quality of everyone’s daily driving.
Image credit: Waze
As Google is considering buying map-software provider Waze, a bidding war could possibly arise between the search engine giant and Facebook, the social media giant. According to reports, Waze is seeking more than $1 billion from the deal, but also maintains the possibility of remaining independent, raising venture capital financing instead.
Waze, which has more than 40 million users, takes information from online communities to improve driving directions. The mobile app alerts users of potential traffic, roadwork, speed traps or other potential hazards using user input, and provides alternate routes. Waze is a free service and generates revenue via location-based advertising.
By acquiring Waze, Google could update its widely used Google Maps service to include social features. However, the main interest could be in taking out a possible competitor to its service as Waze works on expanding its service to Latin America.