US federal trade commission probes google waze deal
Recently closed google waze deal has been put into trouble by US federal trade commission as it has asked for the information related with it in order to get reviewed by the agency according to the report published on Saturday.
Waze a Israel based developer crowdsourced mapping application provides real time update about traffic conditions in streets and roads which benefit it users to plan for alternative routes to reach their destination.
The deal happened earlier this month has provided google with several enhanced features to its map products including real time navigation tools.
According to the sources google intention not to submit the deal for FTC review was just because waze revenue in US amounts to $70 million only.
The FTC is reportedly getting involved because, with the deal, Google, a dominant player in the online mapping market, swallowed one its few viable competitors and further looking for any anti trust issues associated with the deal.
Various meantime reports have confirmed the deal value anywhere between $1 billion to $1.3 billion although the companies didn’t disclosed the financial details.
Earlier this month on 11 june vice president of google Mr. Brian McClendon wrote in the official blog that the Waze product development team would remain in Israel and operate separately for now. 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.
Before Google won the deal, other companies had reportedly been interested in the company, including Facebook and Microsoft.
The application had about 50 million users at the time of the Google deal, Waze said in its own blog post about the deal.
Posted on June 23rd, 2013 in online media update by Prashant Ranjan
June 23, 2013 Sunday at 8:25 am