Today (June 11, 2013), Google announce on their blog that it had closed the deal to buy Waze, a company that makes the popular social traffic app, providing real-time traffic data from users to help drivers find the fastest route to their destination.


Google Bought Waze for $1 Billion


“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. ”

Google did not disclose anything about the purchase price, but as New York Times write on their site: “a person familiar with the transaction said the price was $1.03 billion.” If this is the correct one, the price is almost identical to price from which Yahoo bought Tumblr: $1.1 Billion.

Waze, which has now almost 50 million users, will remain a separate service, but  some of their real-time traffic data will feed into Google Maps.


 On the same topic:  How to get a Google Plus Custom URL for your Profile


Adi Domocos is the Founder of Hot in Social Media. After working for several years in different international companies from Marketing Manager to Country Manager, he decided to launch a site in a field he really loves: Social Media Marketing. He’s a social guy who tries to help and cheer up those around him.