Facebook Inc (FB) Talks With Waze For An Acquisition Falls Through
Facebook Inc (NASDAQ:FB) has ended their talks to buy out Israel-based social mapping and navigation company Waze reports AllThingsD. Earlier this month, we reported that Facebook was pursuing a deal that would be worth up to $1 billion. This opens up the possibility of Google closing on a deal for the company.
It is believed that the Waze deal fell apart due to conflicts on whether Waze’s team will move from Israel to Facebook’s Menlo Park campus in California.
What Facebook would do with Waze is rather unclear. Facebook is a giant social network while Waze crowdsources traffic data such as landmarks and police speed traps. Google can integrate Waze into their mobile applications and the Google Maps website. The only way that Facebook uses maps is by showing where you have tagged your photos and by showing the locations of Places on the social network. Perhaps Facebook would be able to push further into mobile by acquiring Waze.
Apple was never in the running for buying out Waze. This was confirmed by Apple CEO Tim Cook on Tuesday at the D11 conference.