Facebook in talks with traffic report app co Waze

The companies may either collaborate, or Facebook may acquire the Israeli company.

Facebook Inc. (Nasdaq: FB) executives recently visited Israel to meet with executives of traffic report app company Waze Ltd.

The purpose of the talks is not known, but the two companies are reportedly headed for collaboration, possibly involving the use of Waze's application via Facebook. Alternatively, Facebook may acquire Waze.

If Facebook acquires Waze, this would be Facebook's third acquisition in Israel, after acquiring facial recognition company Face.com for $60 million in June 2012, and Snaptu, which provides access to Facebook from mobile phones for $70 million in 2011. Facebook closed Face.com a few weeks later, transferring its employees to Facebook's headquarters in Silicon Valley.

Founded in 2007, Waze has raised $67 million to date and has over 20 million subscribers in 45 countries. Waze already has a cooperation agreement with Apple. The Israeli company has provided a traffic reporting app for the new GPS program in smartphones that Apple will be launching in several weeks time.

Published by Globes [online], Israel business news - www.globes-online.com - on August 28, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Your name
Please insert your name
Content
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

Thanks
You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
Twitter Facebook Linkedin RSS Newsletters