Google reportedly mulling $1B Waze bid, could spark bidding war with Facebook

Posted:
in General Discussion edited January 2014
According to Bloomberg sources, Google is looking to throw in a $1 billion bid for Waze, possibly portending a bidding war between the search giant and Facebook, which is also rumored to be eyeing an acquisition of the social mapping service.

People familiar with the matter told Bloomberg that Waze is managing "expressions of interest" from multiple parties, and is targeting a selling price of at least $1 billion. Alternatively, the firm may seek venture capital financing in order to stay independent.

Waze


A report earlier in May claimed Facebook was in talks to pick up Waze, with the purchase positioning the social network to enter an already cramped market led by Google Maps. Facebook's bid was also said to be around $1 billion.

The sources went on to say that Google only approached Waze after chatter of the Facebook bid went public, suggesting the tech monolith is looking to block Facebook from entering the mapping game.

The publication notes that a deal is far from being reached, and talks may fall apart as Waze's user base is substantial enough to raise funding privately. As of April, Waze had over 40 million people using its service.

In January, Apple too was rumored to be interested in purchasing the startup to bolster its iOS Maps app, but the claims turned out to be false. Sources on Thursday confirmed the Cupertino, Calif., company is not currently part of the talks.

As for Waze's existing investors, the company managed to successfully raise $30 million in a 2011 funding round led by Kleiner Perkins Caufield & Byers and Horizons Ventures Hong Kong. Microsoft is also said to be an investor, as is Magma Venture Partners, Vertex Venture Capital and BlueRun Ventures.

The iOS app is free to download from the App Store, and features TomTom-like functionality like automatic reporting of traffic data. Social aspects include community-generated real-time routing, live maps and an accident reporting system, among others standard navigation features.
«13

Comments

  • Reply 1 of 41
    hill60hill60 Posts: 6,989member


    ...but, but, but Google maps are already perfect.


     


    Why would they need to buy another mapping company?

  • Reply 2 of 41
    realwarderrealwarder Posts: 136member

    Quote:

    Originally Posted by hill60 View Post


    ...but, but, but Google maps are already perfect.


     


    Why would they need to buy another mapping company?





    I was thinking similar.  Not that Google maps was perfect, but what was the point of them buying something else?

  • Reply 3 of 41
    buckalecbuckalec Posts: 192member


    heavy rain in NYC  today - roads and flooding everywhere, did a control at 5:56pm ET (so sick of the google PR spin map spin machine and sad pathetic "journalists" ) and saved to photos. Once again, since the beginning, I used Apple Maps to get me home. Clean & simple. Tufte would be proud.


     


     


  • Reply 4 of 41
    desuserigndesuserign Posts: 1,316member


    Typical of Google &/or Facebook to spend a billion for something worth orders of magnitude less.


    Remember Motorola?

  • Reply 5 of 41

    Quote:

    Originally Posted by realwarder View Post




    I was thinking similar.  Not that Google maps was perfect, but what was the point of them buying something else?



    Agree. What would Waze have that they (1) want and (2) are willing to pay that much to get? They would have to know Apple isn't interested at that price point and I can't imagine it would be just to keep it out of Facebook's hands? Are they really a threat? What even would Facebook do with them?

  • Reply 6 of 41
    mstonemstone Posts: 11,510member

    Quote:

    Originally Posted by TheUnfetteredMind View Post




    Quote:

    Originally Posted by realwarder View Post




    I was thinking similar.  Not that Google maps was perfect, but what was the point of them buying something else?



    Agree. What would Waze have that they (1) want and (2) are willing to pay that much to get? They would have to know Apple isn't interested at that price point and I can't imagine it would be just to keep it out of Facebook's hands? Are they really a threat? What even would Facebook do with them?



    Simple Google wants to keep it out of the hands of anyone else as it could rival their own offerings. Purely defensive.

  • Reply 7 of 41
    jungmarkjungmark Posts: 6,666member
    Google, Don't make me have to uninstall Waze!
  • Reply 8 of 41
    jivanilejivanile Posts: 76member


    Does anyone else think the "but, but, but" thing needs to stop.  It seems to come up at least once in every thread, sometimes more.  It's overplayed so please stop.

  • Reply 9 of 41
    slurpyslurpy Posts: 5,116member
    I think Apple needs this, or foursquare.
    Buying foursquare would be amazing.
  • Reply 10 of 41
    jungmarkjungmark Posts: 6,666member
    jivanile wrote: »
    Does anyone else think the "but, but, but" thing needs to stop.  It seems to come up at least once in every thread, sometimes more.  It's overplayed so please stop.

    But, but, but...
    jsmythe00 wrote: »
    side bar: what i think apple needs to do is buy a carrier. or bandwidth and have mobile services thats caters specifically to ios

    Apple doesn't want to deal with carrier headaches. Bandwidth is interesting but then they would need another antenna.
  • Reply 11 of 41


    Come on Facebook, come up with Search similar to google search!  It is the matter of eating business from google no matter how far it goes! 

     

  • Reply 12 of 41
    joshajosha Posts: 901member

    Quote:

    Originally Posted by hill60 View Post


    ...but, but, but Google maps are already perfect.


     


    Why would they need to buy another mapping company?





    Because strong competition, particularly  from competing spies,  they don't need.


    Fight away spies, you have lots of advertiser cash to waste.

  • Reply 13 of 41
    joshajosha Posts: 901member

    Quote:

    Originally Posted by buckalec View Post


     I used Apple Maps to get me home. Clean & simple. Tufte would be proud.


     




    Oh my, yes Google maps is a mess. Far to difficult to read  when you are driving.

  • Reply 14 of 41
    hill60hill60 Posts: 6,989member

    Quote:

    Originally Posted by Jivanile View Post


    Does anyone else think the "but, but, but" thing needs to stop.  It seems to come up at least once in every thread, sometimes more.  It's overplayed so please stop.



     


    ...but, but, but, it indicates a level of sarcasm even Americans seem to understand, sort of like a waiter walking into a scene with a tray of cream pies or some other variation of slapstick which Americans seem overly fond of.

  • Reply 15 of 41
    rogifanrogifan Posts: 10,669member
    mstone wrote: »
    Simple Google wants to keep it out of the hands of anyone else as it could rival their own offerings. Purely defensive.
    Yep. And I'm sure they'll throw how ever much money it takes to make sure no one else snaps up Waze,
  • Reply 16 of 41
    slurpyslurpy Posts: 5,116member

    Quote:

    Originally Posted by Rogifan View Post





    Yep. And I'm sure they'll throw how ever much money it takes to make sure no one else snaps up Waze,


     


    ..and Apple could easily outbid Google if they wanted to. They've got a shitload more money. The question is only whether they feel they need Waze or not. Maybe I'm speaking from ignorance, but when it comes to POIs Apple needs all the help it can get. Foursquare would be even better. 

  • Reply 17 of 41
    ash471ash471 Posts: 705member

    Quote:

    Originally Posted by helicopterben View Post


    Come on Facebook, come up with Search similar to google search!  It is the matter of eating business from google no matter how far it goes! 

     



    Couldn't agree more.  Facebook should do a search box like Google+ and start providing users with combined searches of social network and web-based searches. Until that happens, Facebook will continue to be stuck in the 90's with shitty irrelevant ads that no one clicks on.

  • Reply 18 of 41
    ash471ash471 Posts: 705member


    Apple would be a lot better off if it released its maps for Android and desktop.  I hope that is coming sometime soon. I'm afraid that developers will all use Google because they can easily distribute their software on multiple platforms.  


     


    Apple would ruin Waze if it purchased it, because Waze needs large numbers and limiting it to Apple would limit the number of people that would play the dumb games.

  • Reply 19 of 41
    hill60 wrote: »
    ...but, but, but, it indicates a level of sarcasm even Americans seem to understand, sort of like a waiter walking into a scene with a tray of cream pies or some other variation of slapstick which Americans seem overly fond of.
    Hey! Watch it! I resemble that remark!
  • Reply 20 of 41
    solipsismxsolipsismx Posts: 19,566member
    hill60 wrote: »
    ...but, but, but, it indicates a level of sarcasm even Americans seem to understand, sort of like a waiter walking into a scene with a tray of cream pies or some other variation of slapstick which Americans seem overly fond of.

    This isn't the 1930s. When was the last time you saw an American sitcom where cream pies were utilized as a gag?
Sign In or Register to comment.