Google gobbles up location-data startup

Google has paid just over $1 billion for Waze, a five-year-old Israeli firm and the creator of a traffic and navigation app for smartphones. Apple was rumoured to have been interested. And before Google swiped it, Facebook, which lacks maps of its own, was said to be close to a deal. Announcing the takeover in a blog post Google said: “We’re excited about the prospect of enhancing Google Maps with some of the traffic update features provided by Waze and enhancing Waze with Google’s search capabilities.” In maps Google is already far ahead of both its rivals and its latest purchase will further widen the lead. Smartphones on which Waze’s app is open are tracked automatically. They contribute to an ever-changing map that shows drivers the best way to beat the traffic on the way to work or home. Drivers can also choose to report jams, as well as accidents, roadworks, speed traps and petrol prices. Waze users’ data, if eventually built into Google’s maps, should give a timelier, fuller picture of conditions on the roads. Waze now boasts almost 50 million users in more than 100 countries, up from 20 million less than a year ago and 36 million at the end of 2012.