Waze Hype Continues with Google Buyout Tomorrow
- Sunday, June 9th, 2013
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An Israeli newspaper has made yet more claims that its homegrown mapping app Waze is going to be subject to a big US tech buyout, this time from Google.
Sources close to the Globes newspaper have been reported as saying that Waze, which has 50m users, will be bought by Google for $1.3bn. All Things D claims this could happen as early as tomorrow.
Apple and Facebook have both already been linked to the purchase, so followers of the company could be forgiven for thinking that this all smacks of artifically created hype, and Google has not made any comment. We wrote about the Facebook rumour and why big tech companies might want to look at Waze here.
Globes rightly points out that the deal will turn some of the Waze founders into multimillionaires, including a handy breakdown: “CTO Ehud Shabtai will earn $78m, president Uri Levine will earn $38m, VP R&D Amir Shinar and his brother Gili will earn $65m.” The company was founded in 2009 and has received a total of $67m in funding to date.