Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek


Filed under: News | Technology News


Google to Outbid Facebook for Waze Acquisition

The navigation map provider based in Israel, Waze is up for grabs by both Google and Facebook. Google especially plans on outbidding Facebook in its quest for acquiring Waze. The two companies are in a struggle over this golden opportunity.

May 24 2013, 6:18am CDT | by

1 Updates
Google to Outbid Facebook for Waze Acquisition

YouTube Videos Comments

Full Story

Google to Outbid Facebook for Waze Acquisition

Google to Outbid Facebook for Waze Acquisition

While Facebook is reputed to be willing to cough up over $1 billion in cold hard cash for Waze, Google is not one of those wimpy companies to be left behind in the dust. Waze is a very lucrative asset nowadays and so the two behemoths have locked horns over acquiring this critter. And the bidding is getting higher and higher. Earlier, Facebook began the acquisition deal by starting off at $800 million. Later on it added $200 million more to the offer in order to make it one that won’t be refused.

According to Bloomberg, a cool $1 billion was enough to get the tongue salivating and slobbering. But now it appears to be a case of the unstoppable against the immovable. Google has stepped into the arena and the competitive heat is definitely on. While the bosses at Waze are hopping glad that the two suitors are wooing it to embrace either one, it is behaving more like a coy mistress than a bold hussy.

The social traffic app firm knows how to play its cards right and has a few aces up its sleeve to boot. Facebook and Google are both adamant and obstinate in their bid to outdo one another in this case of “it’s mine and not yours.” And as the stakes go higher the scenario appears to become both absurd and surreal in its dimensions. Waze meanwhile is a cunning politician since it may choose to fold its cards and leave the negotiating table. That would be tantamount to lead to a fresh round of auctioning.

Waze is basically a network of car drivers who keep in touch with one another and lend tips about favorite routes and hot spots. The company has shown consistent growth since a long time and owns a large portion of the market. Waze has something that both Google and Facebook want and that is social credibility and a reputation for profitable ventures. Both giants want to expand and diversify their mobile offerings. For that they will need the help of Waze.And this firm which is the source of jealousy between the two knows it very well. Google wants to stop Facebook from getting its hands on Waze and so the bidding wars seem to have begun.

Waze has over $40 million users and it may reject any offers at being bought. It deems itself priceless. Meanwhile, a third party that was once interested in the Waze acquisition has just opted out of the game. This is none other than Apple. Even so, with two big guns fighting it out spaghetti western-style for the sake of their love interest, the competitive waves may get rough indeed as time proceeds in its merciless onslaught.


You Might Also Like


Sponsored Update


More From the Web

Shopping Deals


<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.




blog comments powered by Disqus

Latest stories

Jennifer Aniston tasted Jimmy Kimmel&#039;s Wife’s Breast Milk
Jennifer Aniston tasted Jimmy Kimmel's Wife’s Breast Milk
The Friends starlet, Jennifer Aniston shared some very personal matters with the press recently. They included tasting her male friend Jimmy Kimmel's wife’s breast milk! Jimmy Kimmel's
Gwyneth Paltrow facing Lawsuit
Gwyneth Paltrow facing Lawsuit
The famous actress and creator of a website named Goop, Gwyneth Paltrow, is facing a lawsuit by a man who claims she plagiarized his creative phrase. And she is also concerned about her ex-husband’s new relationships.
Ashlee Simpson celebrates Evan Ross Birthday Bash
Ashlee Simpson celebrates Evan Ross Birthday Bash
The pop starlet, Ashlee Simpson celebrated her fiance’s birthday bash and also wore a special hat later on in the style of Mary Poppins.
iPhone 6 from Apple: Where to Next?
iPhone 6 from Apple: Where to Next?
With the arrival of the iPhone 6, the question for the execs at Apple Incorporated is: where to next?

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.