Facebook’s New $1 Billion Purchase

Facebook’s New $1 Billion Purchase

 

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Facebook  is in advanced talks to acquire Israeli mobile satellite navigation start-up Waze for up to $1 billion.

Due diligence is underway after a term sheet was signed. Waze uses satellite signals from members’ smartphones to generate maps and traffic data, which it then shares with other users, offering real-time traffic info.

Waze and Facebook partnered in October 2012 when Waze released its updated version that allows users to share their drive with their Facebook friends.

This would be Facebook’s third acquisition in Israel. It bought Snaptu in 2011 for $70 million and Face.com in 2012 for $60 million.

Dani McAllen is a free spirit who left the sunny shores of Australia in 2008 for a life filled with adventure. Since then, she has lived in London and Paris, travelled Europe extensively, and started multiple blogs. She works in Social Media and is currently completing a thesis on Social Media in New Zealand. Never one to sit still for long, she is putting her roots down for the time being in Auckland. Passionate about the online world and its potential, Dani can be found writing for multiple websites, and blogging at danijustis.com. Feel free to contact her via Twitter or email for a chat.

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