Facebook is on the hunt for a new acquisition, and it has apparently found a new company to buy: Waze, the crowdsourced map and traffic navigation app. Multiple sources have reported that Facebook is in negotiations to buy Waze for a rumored $1 billion.
If this sounds familiar to you, that’s because it should. Just last year, Facebook purchased popular image sharing service, Instagram, last year for the same $1 billion price tag. While it seems like a Facebook takeover, Waze would reportedly stay as a separate operation from the social network.
Currently, mapping applications are a good way to make your name known in the technology industry, whether its good or bad. For example, Google has often been praised for its mobile maps application, whereas just last year, Apple was torn apart for its own maps app that was deemed unfit for consumers, and even cost some Apple execs their jobs. As Facebook is making a push for being known as a large mobile presence, it seems logical that Waze be the next step. After the announcement of Facebook Home last month, the company is becoming closer and closer to its own operating system, and maps are a necessity for an OS to be successful now-a-days.
While nothing is final, we will keep you updated on the negotiations between the two companies. Do you use Waze? Would you like a Facebook buyout of the social navigation company, or would you prefer it stay independent? Drop a comment below!