Waze: The Social GPS App That Facebook May Buy For $1 Billion

Facebook is in negotiations to acquire to the GPS technology company Waze in what could amount to a $1 billion deal, according to reports. So what is Waze anyway? The Israeli company (which also has offices in California and Europe) offers an app that uses GPS and crowd sourcing to help drivers avoid traffic and find the quickest route.

The community-based traffic and navigation app connects drivers based on their location and lets them share real-time traffic and road information. Users can get real time alerts about hiccups along their route and find alternative routes to help them avoid police, accidents, road hazards or traffic jams. “It’s like a personal heads-up from a few million of your friends on the road,” says the company’s website.

The free app, which is available in both iOS and Android formats, is already integrated with Facebook letting users coordinate their whereabouts with their Facebook friends. Want to know if your friend is running late for dinner? Just check out the traffic along their route in Waze. According to the The Telegraph UK, the company has about 44 million users, about a quarter of which are in the US.