Google is considering buying Israeli mobile navigation startup Waze, according to Bloomberg News. This could lead to a bidding war with Internet giant Facebook, which has also shown interest in the company. According to the report, which cited sources close to the issue, Waze is asking for more than $1 billion and is fielding queries from multiple buyers. Maps and navigation services have become a key asset for technology companies as a growing share of consumers own smartphones and other mobile devices. According to earlier media reports, Facebook has held talks to buy Waze for as much as $1 billion. Google and other parties approached Waze after the Facebook talks became public. None of the bidders are close to sealing a deal, Bloomberg reported, adding that the startup might decide to remain independent. Apple, which distributes its own competing map tool, is not part of the discussions, Bloomberg said. Waze could not immediately be reached for comment. Nor did Google immediately respond to requests for comment. Waze uses satellite signals from members' smartphones to generate maps and traffic data, which it then shares with other users, offering real-time traffic information. The four-year-old company has 47 million users. It has raised $67 million in financing from firms including Kleiner Perkins Caufield & Byers, Blue Run Ventures and semiconductor company Qualcomm Inc. Eleven of Waze's 100 employees are based in the United States, while the remainder are in Israel.
Status update: Google follows Facebook in bid to purchase Waze
Waze is asking for more than $1 billion and is fielding queries from multiple buyers • Apple, which distributes its own map tool, is not involved in the talks.
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