Google Acquires Israel-Based Social Mapping Service Waze For $1.3 Billion

Posted on Jun 11 2013 - 10:09pm by Editorial Staff

Google

As expected, Google today announced that it has acquired social mapping service Waze for $1.3 billion. We reported yesterday only that the search giant is just a step closer for the billion dollars plus acquisition and today the turn up turned true. Google says that the Waze product development team will remain in Israel and will operate separately from now.

In case, if you are still wondering that what the Waze is, then to tell you that Waze helps the fast-growing community of traffic-obsessed drivers who all are working together to find the best routes from home to work, every day. The addition means getting a whole new light for Google Maps which will now be provided by Waze.

“Larry Page, Brian McClendon and the Google Maps teams have been following our progress closely and are excited about what we’ve accomplished,” Waze CEO Noam Bardin said. “Nothing practical will change here at Waze. We will maintain our community, brand, service and organization – the community hierarchy, responsibilities and processes will remain the same.”

“The same Waze people will continue to collaborate with you, and we will continue to innovate our product and services, making them more social, functional and helpful for everyday drivers. Our employees, managers, founders and I are all committed to our vision for many years to come.”

Photo Credit: dannysullivan via photopin cc

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.