Facebook makes $1 billion bid for Waze mobile-mapping app

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Facebook makes $1 billion bid for Waze mobile-mapping app

Facebook, the world’s most popular social-networking service, is in talks to acquire mobile-mapping application provider Waze for as much as $1 billion, according to two sources familiar with the matter. The talks to acquire Palo Alto, California-based Waze are not final, and a deal may not happen, said the sources.

Facebook is adding features for users who are increasingly turning to smartphones and tablets to access the social-networking sites.

At $1 billion, an acquisition of Waze would be Facebook’s largest-ever deal after it spent more than $700 million to buy mobile photo-sharing service Instagram last year.

Bloomberg

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