Google May Challenge Facebook in $1 Billion Bid for Waze

Google is reportedly putting $1 billion on the table in a powerplay move to win over the owners of Waze before they can accept an acquisition offer by social networking giant Facebook.

With Apple reportedly out of the bidding picture these days, it now looks like a major war between Google and Facebook is brewing for the social mapping service.

According to sources from Bloomberg, Waze is managing “expressions of interest” from multiple parties, and is now targeting a selling price of at least $1 billion.

Another option for Waze? Seeking venture capital financing in order to stay independent.

“None of the bidders is close to clinching a deal and the talks may fall apart,” sources confirm. “Waze may also walk away from the discussions and use more venture backing to expand its mapping program, which has more than 40 million users.”