Facebook said eyeing map app

Investor's Business Daily

The No. 1 online social network is reportedly in talks to acquire a mapping and traffic app developer called Waze for up to $1.5 bil in order to expand its mobile business. Waze has been downloaded 40 mil times. Users can connect with other drivers to share traffic and other road info. Reports in TechCrunch and the Israeli press said Facebook (FB) began negotiations for Israel-base Waze 6 months ago. Facebook shares fell 0.3% to 27.04.

Rates

View Comments (0)