(Image source: Voxxi)
BY JASMINE BAILEY
It’s official, Google announced Tuesday it has acquired the popular social mapping system Waze for a reported price tag of more than $1 billion.
For weeks there has been speculation this deal was in the works. (Via Social Media Today)
Both Google and Facebook were in a bidding war for the GPS navigation company. (Via GPS World)
But once talks with Facebook fell apart, a perfect opening came for Google to scoop up Waze. (Via All Things D)
So just a bit of context on what exactly Waze, a company based in Israel, is. It’s a mapping system… (Via Waze)
…that not only supplies GPS but it does it in real time and also provides users with reliable information about traffic conditions, travel times and much more. (Via Youtube / Waze Gps)
“The interesting thing about Waze compared to any of the other navigation application is that it’s all crowdsourced. So we now have 50 million people driving around and using it and that’s all information that we use to get that real-time information.” (Via CNN)
But what also makes Waze unique is the company creates its own maps — only one of four companies in the world that works in that way. So what does this new acquisition mean for the future of Google? Well, the U.S. is one of Waze’s biggest markets and CNBC points out that can only help Google.
“This Waze deal is going to help Google, it also hurts Facebook, it’s hurts Apple… Google’s had to pull back, held the levels it need to hold, I think it could test highs again soon.” (Via CNBC)
And a writer for Forbes notes Waze would possibly even be used as an alternative choice to Google’s present mapping device — simply as Microsoft did when it sold Skype in 2011. Writing: “Microsoft, which had a rival product known as Messenger closed it now not lengthy afterwards and presently deals Skype as its options for each Web conversations and instant messages.”
Forbes additionally factors out many staff with Waze, together with its CEO, plan to remain in Israel to function independently for a minimum of the subsequent three years — so getting a Google-sized firm to embody the beginning-up administration model is usually a hurdle.