Apple, Google and Facebook consider buying GPS app Waze, sparking bidding war

Tech giants interested in buying programme with estimated price 'as much as $1 billion'

Crowdsourced navigation app Waze is reportedly at the centre of a bidding war with the company “fielding expressions of interest from multiple parties”, Bloomberg reports.

Facebook, Google, and other unknown companies are expected to be among the bidders, with the estimated price for the app currently “as much as $1 billion (£662 million)”.

Waze is a free GPS navigation system that offers turn-by-turn guidance. It differs from most map applications by sourcing some of its data from its users, providing estimated driving times by tracking users anonymously and encouraging drivers to record fuel prices and places of interest.

The company was founded in Israel in 2008 and first raised $25 million (£16.6 million) of funding in 2010 followed by a further $30 million in 2011.

Other interested parties could include Apple, who were first rumoured to be interested in the company in January.

The release of Apple’s iOS 6 operating system for phones saw their in-house map software widely criticised, with errors including the listing of non-existent cities and mislabelled landmarks.

Apple opted to remove Google Maps from their smartphones but ended up apologising for their mistakes and suggesting that customers download new map apps from the App Store. Waze was among the alternatives suggested to customers by Apple CEO Tim Cook.

For Google, the acquisition would help the company keep a prominent position in the mapping market, while for Facebook the social-features of Waze would offer an opportunity to improve the geo-tagging functionality and community aspects of the social network.

The bids might result in a successful takeover of Waze, but equally the company might use such high-profile interest to fuel another round of financing, allowing them to retain independence and expand their service.

Arts and Entertainment
Louis Theroux: By Reason of Insanity takes him behind the bars again
tvBy Reason of Insanity, TV review
Arts and Entertainment
Cassetteboy's latest video is called Emperor's New Clothes rap
videoThe political parody genius duo strike again with new video
Sport
Seth Rollins cashes in his Money in the Bank contract to win the WWE World Heavyweight Championship
WWERollins win the WWE World Heavyweight title in one of the greatest WrestleMania's ever seen
Arts and Entertainment
tvPoldark, TV review
Life and Style
ebookNow available in paperback
ebooks
ebookPart of The Independent’s new eBook series The Great Composers
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs Gadgets & Tech

    Recruitment Genius: Junior Web Designer - Client Liaison

    £6 per hour: Recruitment Genius: This is an exciting opportunity to join a gro...

    Recruitment Genius: Service Delivery Manager

    Negotiable: Recruitment Genius: A Service Delivery Manager is required to join...

    Recruitment Genius: IT Infrastructure Engineer

    £30000 - £40000 per annum: Recruitment Genius: Our client is looking to find a...

    Recruitment Genius: IT Engineer

    £21000 - £23600 per annum: Recruitment Genius: An exciting opportunity to join...

    Day In a Page

    No postcode? No vote

    Floating voters

    How living on a houseboat meant I didn't officially 'exist'
    Louis Theroux's affable Englishman routine begins to wear thin

    By Reason of Insanity

    Louis Theroux's affable Englishman routine begins to wear thin
    Power dressing is back – but no shoulderpads!

    Power dressing is back

    But banish all thoughts of Eighties shoulderpads
    Spanish stone-age cave paintings 'under threat' after being re-opened to the public

    Spanish stone-age cave paintings in Altamira 'under threat'

    Caves were re-opened to the public
    'I was the bookies’ favourite to be first to leave the Cabinet'

    Vince Cable interview

    'I was the bookies’ favourite to be first to leave the Cabinet'
    Election 2015: How many of the Government's coalition agreement promises have been kept?

    Promises, promises

    But how many coalition agreement pledges have been kept?
    The Gaza fisherman who built his own reef - and was shot dead there by an Israeli gunboat

    The death of a Gaza fisherman

    He built his own reef, and was fatally shot there by an Israeli gunboat
    Saudi Arabia's airstrikes in Yemen are fuelling the Gulf's fire

    Saudi airstrikes are fuelling the Gulf's fire

    Arab intervention in Yemen risks entrenching Sunni-Shia divide and handing a victory to Isis, says Patrick Cockburn
    Zayn Malik's departure from One Direction shows the perils of fame in the age of social media

    The only direction Zayn could go

    We wince at the anguish of One Direction's fans, but Malik's departure shows the perils of fame in the age of social media
    Young Magician of the Year 2015: Meet the schoolgirl from Newcastle who has her heart set on being the competition's first female winner

    Spells like teen spirit

    A 16-year-old from Newcastle has set her heart on being the first female to win Young Magician of the Year. Jonathan Owen meets her
    Jonathan Anderson: If fashion is a cycle, this young man knows just how to ride it

    If fashion is a cycle, this young man knows just how to ride it

    British designer Jonathan Anderson is putting his stamp on venerable house Loewe
    Number plates scheme could provide a licence to offend in the land of the free

    Licence to offend in the land of the free

    Cash-strapped states have hit on a way of making money out of drivers that may be in collision with the First Amendment, says Rupert Cornwell
    From farm to fork: Meet the Cornish fishermen, vegetable-growers and butchers causing a stir in London's top restaurants

    From farm to fork in Cornwall

    One man is bringing together Cornwall's most accomplished growers, fishermen and butchers with London's best chefs to put the finest, freshest produce on the plates of some of the country’s best restaurants
    Robert Parker interview: The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes

    Robert Parker interview

    The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes
    Don't believe the stereotype - or should you?

    Don't believe the stereotype - or should you?

    We exaggerate regional traits and turn them into jokes - and those on the receiving end are in on it too, says DJ Taylor