Facebook is reportedly in talks with Waze about a possible acquisition of the popular social GPS navigation and traffic service. Waze was once recommended by Apple as an alternative to its own iOS Maps app.
Facebook could pay as much as $1 billion for Waze, according to two unnamed sources who spoke with Bloomberg. Talks between the two companies are not final, those people said, and could eventually fall apart.
The move would allow Facebook to compete with the big boys in the mapping arena, putting them on a more equal footing with Apple, Google, Nokia, and others.
Waze allows users to share real-time information on traffic congestion, gas prices, accidents, speed traps, checkpoints and more. Much of the data is reported with no extra effort on the users’ part by simply having the iPhone application open while driving. The company claims that more than 30 million people already use the service as a “fun, community-based traffic & navigation app.” (I use Waze, and find it to be a valuable alternative to the big boys, and the price is certainly right.)
Earlier this year, rumors floated the Apple was interested in acquiring Waze, but the reports turned out to be unfounded.
Facebook’s acquisition would make sense, a social based navigation and mapping service would be a fine addition to Facebook’s array of social apps and services. Although, Facebook will most likely program Waze to post to your Facebook page every time you drive anywhere, so it should increase the already hefty number of posts we all receive in our “news” feeds every day.
What do you think readers? Is Facebook grabbing up Waze a good idea? Let us know in the comments section below.
Waze for iOS is available in the App Store. [DIRECT LINK]