Report: Facebook Talks to Acquire Waze Collapse After Staffers Refuse to Leave Israel
Waze has not had its day, at least not yet.
According to Allthingsd.com, talks with Facebook to acquire the Israel-based social mapping and navigation startup for $1 billion have fallen through, and sources say part of the reason behind the collapse was due to the hesitation of Waze staffers, who are predominantly based in Israel — to move to Facebook’s Menlo Park, Calif., headquarters.
Allthingsd reports: “Waze’s mobile application seemed like a logical acquisition target for Facebook, as Waze relies on crowdsourced traffic data, accident reports and police traps from its 40-million-plus userbase to help drivers better navigate their road trips. While competitors Google and Apple both offer mapping services, Facebook currently does not offer any sort of maps app.”
It has also been reported that Waze is in talks with both Google and Apple. However Apple CEO Tim Cook said earlier this week that his company had made no bid for Waze.