Google has joined the bidding to acquire Israeli mobile satellite navigation startup Waze, with Facebook also looking to acquire the company.
According to Bloomberg, Google is willing to pay US$1 billion to buy the startup, matching Facebook’s offer.
Bloomberg reports Google and a number of other interested parties started talking to Waze after talks with Facebook became public, although other reports indicate the startup may turn down all the bids and remain independent instead of raising venture financing.
Waze would allow Google to enhance its Maps service on smartphones, with Waze able to add social features to its product.
The startup is becoming increasingly attractive to companies in the mobile advertising segment as geo-location advertising gains popularity.
Waze’s user base currently stands at 40 million, with its service making users aware of potential traffic slowdowns and suggesting alternative ways to reach destinations.
