Newsletters
News & Information for Technology Purchasers NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
This ad will display for the next 20 seconds. Click for more information, or
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
GET RECOGNIZED.
Let an ISACA® certification
elevate your career.

Register today and save
Mobile Tech
24/7/365 Network Uptime!
Average Rating:
Rate this article:  
Is Waze Worth a Billion Dollar Bidding War?
Is Waze Worth a Billion Dollar Bidding War?

By Jennifer LeClaire
May 24, 2013 1:47PM

    Bookmark and Share
Here's how Waze works: After typing in a destination address, users just drive with the app open on their phone to passively contribute traffic and other road data, but they can also take a more active role by sharing road reports on accidents, police traps, or any other hazards along the way. Google and Facebook are reported making offers for Waze.
 



There's a bidding war going on over a crowd-sourced map application provider. Or so the rumor mill says. Credible sources are pointing to a competition between Google and Facebook for Waze.

Businessweek is driving part of the clamor with its headline, "Google Said to Consider Buying Waze Presaging Bidding War." Three Businessweek reporters teamed on the story, which suggests the company could fetch more than $1 billion.

A bit about Waze: It's a fast-growing community-based traffic and navigation app. Drivers use it to share real-time traffic and road info with the goal of saving gas, money and time during daily commutes.

Keeping It Away from Apple

Greg Sterling, principal analyst at Sterling Market Intelligence, told us Waze would become an asset to any of the major mapping competitors.

"Ironically, Google probably needs it least of all the would-be acquirers," Sterling said. "However, it's probably thinking of bidding to keep Waze away from Facebook or Apple."

Apple needs mapping technology and has been the subject of rumors over mapping technology acquisitions. Apple took heat for a less-than-Apple-like experience with its initial Maps product and even saw some executive shakeup when then-iOS chief Scott Forstall reportedly refused to sign an official apology letter to customers for the poor navigation and quality.

What About Waze?

Waze could not immediately be reached for comment, nor could Google or Facebook. But Waze is making waves on its own. The company earlier this week won a 2013 Webby Award for Best Connected Product.

Here's how it works: After typing in a destination address, users just drive with the app open on their phone to passively contribute traffic and other road data, but they can also take a more active role by sharing road reports on accidents, police traps, or any other hazards along the way, helping to give other users in the area a 'heads-up' about what's to come.

With the crowd-sourcing concept, Waze imagines 30 million drivers out on the roads, working together toward a common goal: to outsmart traffic and get everyone the best route to work and back, every day.

The app alerts drivers before they approach police, accidents, road hazards or traffic jams by tapping into real-time information shared by other drivers. And Waze says its active community of map editors works to constantly improve and update maps.

Waze was initially funded by Blue Run Ventures, Magma Venture Partners and Vertex Venture Capital, and recently received additional funding from Kleiner Perkins and Li Ka-shing's Horizon Ventures. Microsoft is also an investor.
 

Tell Us What You Think
Comment:

Name:



Salesforce.com is the market and technology leader in Software-as-a-Service. Its award-winning CRM solution helps 82,400 customers worldwide manage and share business information over the Internet. Experience CRM success. Click here for a FREE 30-day trial.


 Mobile Tech
1.   Nvidia Revamps Shield as Game Tablet
2.   Apple Smart Watch Patent Surfaces
3.   iPhone 6: Bad for Apple Tablet Sales?
4.   GoTenna: Work-Thru for Dead Zones
5.   Nokia X Phones Had Identity Crisis


advertisement
Android SMS Worm on the Loose
Malware lets bad actors cash in.
Average Rating:
Review: Microsoft's Surface Pro 3
Is it a tablet and laptop replacement?
Average Rating:
iPhone 6: Bad for Apple Tablet Sales?
Most likely, it will be a huge hit.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
34 European Banks Hit by Android-Skirting Malware
Criminals have been finding gaping holes in Android-based two-factor authentication systems that banks around the world are using. The result: 34 banks in four European countries have been hit.
 
New Web Tracking Technologies Defeat Privacy Protections
Recently developed Web tracking tools are able to circumvent even the best privacy defenses, according to a new study by researchers at Princeton and the University of Leuven in Belgium.
 
Juniper DDoS Solution Aims at High-IQ Networks
In the face of more complex attacks, Juniper Networks is boosting its DDoS Secure solution to help companies mitigate the threats with more effective security intelligence throughout the network fabric.
 

Navigation
NewsFactor Network
Home/Top News | Enterprise I.T. | Cloud Computing | Applications | Hardware | Mobile Tech | Big Data | Communications
World Wide Web | Network Security | Data Storage | Small Business | Microsoft/Windows | Apple/Mac | Linux/Open Source | Personal Tech
Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.