Google is supposedly considering buying Israeli mobile satellite navigation start-up Waze Inc. Waze is a unique GPS navigation software, which is basically a community-driven application that learns from user's driving times to provide routing and real-time traffic updates. Additionally, people using the app can report accidents, traffic jams, speed traps, police and can update roads, landmarks, house numbers and so on.
The free application which supports Android, iPhone, Symbian, Windows Mobile, won the Best Overall Mobile App award at the 2013 Mobile World Congress. Previously, there were reports that Facebook is in talks to purchase Waze for $ 1 billion. Does this mean, there is going to be waging war between the search giant and the biggest social media network?
Bloomberg reports that Several tech companies have approached Waze to strike a deal, after Facebook talks went public. All these attempts can prove to be futile, as the start-up might chose to operate as a independent company.
The importance of maps on smartphones and other devices is growing large, Google already has a widely used mapping tool, acquisition of Waze could mean monopoly in mapping service. According to Bloomberg's report even Apple, which also offers mapping tools is also in discussions.
Waze holds a patent for System and method for parking time estimations. Acquisition of the the start-up would mean elimination competitive threat, from other companies. The real question is, will Waze decide to join another company and if yes, which one. There is news that company is asking for more then $1 billion, in response to interest from multiple parties.