Google paid $966 million for Waze

Google paid $966 million for Waze

Summary: Google says it paid $966 million to buy online mapping service Waze, six weeks after closing the deal.

SHARE:
TOPICS: Google, Start-Ups
1

Google has spelled out the purchase price for Waze in regulatory documents filed on Thursday, after withholding the price last month when it announced the acquisition of the Israel-based startup.

Media outlets previously estimated the purchase price at $1 billion, based on information provided by people familiar with the negotiations who didn't want to be named.

Waze provides a mapping app that uses crowdsourcing to attain real-time information on traffic. It is available for free on Android, iOS, Windows Phone, and Symbian, and is currently in beta for BlackBerry.

"To help you outsmart traffic, today we're excited to announce we've closed the acquisition of Waze. This fast-growing community of traffic-obsessed drivers is working together to find the best routes from home to work, every day," Brian McClendon, vice president of Google's Geo products, said in June on the official Google blog.

Google also bought seven other smaller companies for a total of $53 million during the three months in June. That calculation is based on information that Google disclosed in Thursday's document as well as a quarterly report filed in April.

Topics: Google, Start-Ups

About

Corinne is sub-editor across all CBS Interactive sites, and joined the company after completing her degrees in Communications and Law, and undertaking a string of internships in law and journalism. Corinne is also a journalist for ZDNet.

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Talkback

1 comment
Log in or register to join the discussion
  • Wow this is over paying on almost a Moto like scale.

    After the fiasco Moto has turned out to be you'd think they'd have thought twice about this and paid something a little closer to reality.
    Johnny Vegas