With Turn-by-Turn Directions, Google's Waze App Wants to Win Mobile Advertising

Dunkin' Donuts, Panera Bread target drivers

Nearly two years after Google acquired Waze for more than $1 billion, new research and prolonged advertising deals from brands show that the mapping app is making a dent in the lucrative—and competitive—market of location-based mobile advertising.

Waze has kept a relatively low profile since being acquired by the Mountain View, Calif.-based company, building up an ad business with a core group of retail, fast-food, gas and transportation brands. Equipped with data and a solid following of daily users who consistently use the app to navigate traffic, Google is battling Facebook, independent ad networks and Foursquare for a piece of what BIA/Kelsey forecasts will be a $15.5

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