Google Acquired WazeAdded: Monday, June 24th, 2013
Category: Bit Torrent Freedom > The Industries Of Records, Gaming, Software, Movies
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, www.extratorrent.com, 2013
In order to provide the American government with updated data of its citizens’ movement under the Prism system, the search giant has acquired Israeli mapping startup called Waze for as little as $1 billion. The industry experts had been expecting such deal, because it would provide Google with even more power over the mapping market with its clever technology.
The mapping startup gains up to the minute data on traffic movements by using its client’s vehicles. It is done by using satellite signals from customers’ smartphones and generating maps and traffic information shared with others. The company claimed that it planned on using Waze’s service for improving its own Maps product.
The startup’s product development team will stay in Israel and operate separately for a while. In the meantime, it is unclear when it will integrate into Google’s Maps app, but the core Waze product will still benefit from integrating Google-search capabilities.
According to Waze, the company decided to forego the typical IPO route for startups, because their aim was to focus on the product. In case Waze moved to an IPO, it shifted attention to bankers, lawyers and the happiness of Wall Street. After considering a number of options, they came to a conclusion that Google is the best partner for Waze.
It is known that maps are among the 5 most-used applications on smartphones and tablets, as well as music and games. Perhaps, Google purchased the company in order to keep Waze out of the paws of Apple, because the latter is desperate to provide a product which actually works. In addition, Facebook was also named as a potential buyer, but the company insisted that Waze’s team couldn’t remain in Israel and the deal never happened.
Waze was created 4 years ago by Ehud Shabtai, a software engineer who has a degree in philosophy and computer science. At the moment, the startup has 47 million users and raised $67 million in funding from such companies as Blue Run Ventures and Qualcomm.
June 24th,2013Posted by:
Monday, June 24th, 2013
|posted by (2013-06-24 16:04:53)|
|Information is power!|
|posted by (2013-06-25 10:35:04)|
|Yes. Power for the yids|
|too bad nobody tracks what the politicians do.||
Most Popular Stories