For months, Waze has been a potential billion-dollar buy on the table for a handful of tech giants, including Google, Facebook and Apple—and a deal may still be quite a ways away.
Facebook is now out of the running to acquire the Israel-based crowdsourced map startup, sources familiar with the matter told AllThingsD. While the two companies discussed a potential acquisition for months, negotiations have reportedly now fallen apart.
Mashable reported that Apple CEO Tim Cook said yesterday that his company did not make a bid for Waze—contrary to reports by several tech publications earlier this year. According to the reports, Apple was attempting to acquire Waze to fix some of the ongoing issues with Apple Maps.
Though it hasn't yet found a buyer, Waze is still a hot property on the tech market. What's driving the growth and success of this particular map app, which takes standard digital maps and uses overlays to point out potentially troublesome road work, collisions and speed traps? Drivers. Users happily report these street nuisances because Waze turns it into a game where you get points for contributing information, according to Bloomberg. The added knowledge helps Waze steer its users down the right path based on current conditions.
Of the 47 million people using the company's apps for the iPhone and Android, 11 million are in the U.S.; 10 million are in Europe; 9 million are in Latin America; and 2.5 million are in Asia, according to the company.