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Google appears close to buying Waze for $1B
Google is close to a deal to acquire Waze, maker of the eponymous crowdsourced mapping app, for at least $1 billion, according to the Wall Street Journal and others.
The potential deal was first reported by Israeli business site Globes which said it would be worth $1.3 billion, citing sources.
Started in Israel, now with offices in Palo Alto headed by CEO Noam Bardin, the company says it has about 45 million users in 193 countries, according to the Journal. Waze originated in 2006 as an open-source mapping project led by CTO Ehud Shabtai; the company formed two years later with venture-capital backing, according to information on its website.