The daily Calcalist reported last week a rumour that Facebook is currently in the advanced stages of talks to purchase the GPS app Waze for an estimated $1 billion.
Waze has been designed to use satellite signals from their members smartphones to generate maps and traffic data, which it then shares with other users, offering real-time traffic information to its members.
Facebook and Waze first partnered back in October 2012, and soon after released an updated version of their application that enabled users to share their drive information with their Facebook friends.
Calcalist explained that last year Waze tripled its user base to 45 million and in March alone, 1.5 million users downloaded the free mobile navigation app. As more information comes to light we will keep you updated.Filed Under: Technology News, Top News