Google has acquired crowd-sourced mapping application, Waze, as announced from the company’s official blog.
It was long rumored that both Facebook and Apple have shown interest in acquiring the Israel based startup, but have been beat out by Google. While acquisition price is still up in the air, it has been speculated at 1 billion to 1.3 billion dollars.
The Waze product development team will still operate separately in Israel for the time being and plans on using each mapping application complementary to each other. Google also plans on focusing on the Waze community who is seen as the “DNA of [the] app”.
“The Waze community and its dedicated team have created a great source of timely road corrections and updates,” said Google’s Brian McClendon, Vice President of Geo, in a statement. “We welcome them to Google and look forward to working with them in our ongoing effort to make a comprehensive, accurate and useful map of the world.”
According to AppData, Waze is currently the #2 of top free navigation app for iOS. With Google Maps” at number one of top free navigation apps, Google has taken a significant stronghold of the navigation app landscape.