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A Waze Deal Never Made Sense for Facebook: Blodget

Justin Maiman
Daily Ticker
A Waze Deal Never Made Sense for Facebook: Blodget

Did Google (GOOG) buy Waze because it's a smart and valuable crowd-sourced mapping app? Or because Larry Page and others at Google didn't want Facebook (FB) to get it?

Maybe a little bit of both. For weeks, Google and Facebook were both in the running to buy the mobile company. But The Daily Ticker's Henry Blodget says it, "never made sense for Facebook...[they're] not in the map business in the same way." He thinks a Waze deal would have made a lot of sense for Apple, but they "whiffed."

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So this week Google made it official and paid about $1.1 billion for Waze. With 50 million users it's one of the most popular crowd-sourced apps on the iPhone.

The Daily Ticker's Lauren Lyster asked Blodget what he thought the deal was all about for Google: "two things," says Blodget, "mobile and maps. Why wouldn't you want to have an awesome traffic real-time image of where the traffic is that's done automatically for millions of people using your app?"

Blodget says part of this Waze-craze, "scares the hell out of me" -- find out what he's warning about in the above video.

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