No Waze for Facebook as Talks End: Report

Wednesday, 29 May 2013 | 11:45 AM ET
Waze navigation app
Source: Waze
Waze navigation app

Facebook has ended billion-dollar talks to acquire Waze, a free social mapping and navigation application, AllThingsD reported, citing unidentified sources familiar with the matter.

A main sticking was whether Israel-based Waze would relocate to California, where Facebook is headquartered, according to AllThingsD. The deal could have been worth $1 billion.

Both Wave and Facebook told CNBC they decline to comment on the report.

Battling Over Waze
Waze has 47 million drivers contributing real-time information to its app, reports CNBC's Julia Boorstin. As a result, Waze provides turn-by-turn directions based on current road conditions.

Google also has been in talks with Waze, Reuters reported Friday, also based on unnamed sources.

Waze bills itself as turn-by-turn navigation system "with real-time help from other drivers."

Users can drive with the app open on their phone to passively contribute traffic information or can actively share road reports such as police traps, crashes or other hazards.

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