The Economist: Google Buys Israeli Company “Waze”

Redefined Horizons Blog

In a demonstration of the value of online maps and map data, Google recently paid over 1 billion dollars for Israeli consumer mapping company Waze. According to an article in the Economist Magazine on June 15th, Apple and Facebook were also interested in purchasing the Waze, but Google beat them to the punch. The deal by Google may have been a strategic move to deny its big competitors a great consumer mapping company and application, but we can expect Google will also take advantage of the companies software and mapping data. The article states: “Smartphones on which Waze’s app is open are tracked automatically. They contribute to an ever-changing map that shows drivers the best way to beat the traffic on the way to work or home. Drivers can also choose to report jams, as well as accidents, roadworks, speed traps and petrol prices. Thousands have also edited Waze’s…

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