May 9 2013, 8:20am CDT | by Sumayah Aamir
Facebook and Waze have made a financial exchange that benefits both in the process. The story is that Facebook wanted to buy the social mapping/traffic app maker Waze and had been looking forward to signing a deal. A price figure of $800 million to about $1 billion was the rough estimate that got decided upon.
According to TechCrunch
, the reports of this timely transaction are clearly correct according to TechChrunch. Main source of this information is Israeli press including Calcalist
. Come hell or high water it will take place. The fact that the Research & Development Department of Waze is located in Israel won’t make an iota of difference since its main headquarters are in the same place as Facebook that is Palo Alto. Whether Israel or the US will serve as the focal point for operations is irrelevant. Either way it is a done deal. From the looks of it, there seems to be a trend towards shifting the location to the States as Facebook did two times previously in its Israeli mergers.
Meanwhile, when they were contacted, spokespersons at both Facebook and Waze declined to make any further comments. The only blank response they gave was that nothing having to do with business would be revealed no matter what. But where there is smoke, there is fire. And you can’t make an omelet without breaking eggs.
For all purposes the merger is official and it is only a matter of time before it becomes final. So much for speculation! In a way this was bound to happen. It was still in its initial phase about half a year back. Facebook has every right and doesn’t need a rhyme or a reason to take over Waze. Facebook’s latest thing is the Android-based Facebook Home service. And as for the growth of business, it has been progressing at a brisk pace that refuses to lag behind the competition.
Facebook now has over a billion users. The future of the stylish social network is going to extend to global levels of membership. It is business at its best. And just to think that it all began as a potential idea in the mind of Mark Zuckerberg is a valuable study in the mechanics of genius.
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