Why Do Google and Others Want to Buy Waze?

Google is close to finalizing a deal to acquire mapping company Waze for $1.3 billion, according to a report by Israeli publication Globes. We first got word of the news on TNW.

Waze is the world’s fastest-growing community-based traffic and navigation app. Join other drivers in your area who share real-time traffic and road info, saving everyone time and gas money on their daily commute.

An active community of Waze map editors works to constantly improve and update Waze’s maps. That’s why they’re the first to reflect changes happening in your neighborhood, constantly improving routing for everyone.

Over the last several months, it’s been reported that Apple, Google, and Facebook were all interested in buying Waze for around $1 billion. Facebook was the latest company reportedly in deep talks to buy Waze, but according to AllThingsD, the deal didn’t go through.