Rumours has it Facebook is after Waze GPS, in a whopping $1 billion deal
Social media giant Facebook is in talks with GPS mobile app Waze for a deal worth a whopping one billion dollars.
In a report by France24, the app will help Facebook expand its reach to the larger community of drivers by helping them deal with traffic jams and get directions online.
While Facebook refused to comment on the report, if the deal is made it will be second in the history of Facebook's hefty deals. Last year Facebook made a deal with Instagram for 747 million dollars that initially was at one billion dollars, the report said.
The drop in Facebook's shares is considered the prime reason for the dip in its deal prices. (ANI)
- Sweet deal: Why Android 4.4 "KitKat" is a must-have for Middle East smartphone users
- Digitizing the Middle East: Why Google thinks online advertising will change the Arab market
- Is KSA under attack?! Why cybercrime is targeting Saudi consumers
- When IT disasters strike, are Middle East businesses ready to respond?
- Is Nokia about to make a comeback in the Arab world?