New reports claim Facebook is in its last stages of acquiring Israeli location Waze for $1 Billion.
The Israeli startup was founded in 2007 by Ehud Shabtai, Amir Shinar and Uri Levine and is home to over 40 million active users worldwide and considered to be the world’s largest social GPS app.
According to Israeli financial magazine Calcalist Waze and Facebook are about to sign an agreement which will see Facebook pay between $800 million and $1 billion.
Earlier there were reports that Waze would sell to Apple at $750 million but this did not happen.
Calcalist says Facebook will not change the way Waze operates. The two have been in working relationships since last October. Waze enables Facebook users to see which of their Facebook friends is nearby.
Facebook in 2011, acquired Israeli startup Snaptu for $70 million and and a year later added another Israeli startup Face.com for $60 million. The $1 billion deal will resemble Facebook’s acquisition of Instagram last year September for the same amount.
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