Rumor: Facebook May Buy Waze for $1 Billion

As Facebook has shown with acquisitions in the past – including the Instagram buy for $1 billion – the social networking giant isn’t afraid to pour cash into a company it wants to absorb.

According to the rumor mill Thursday morning, the next target for acquisition on Mark Zuckerberg’s radar is Waze.

Reuters added to the speculation this morning by reporting that Facebook is now in “advanced talks” with the company.

If Facebook does acquire the Israeli mobile satellite navigation start-up called Waze, the cost to Facebook could be substantial – somewhere in the $800 million to $1 billion range.

Waze uses satellite signals from members’ smartphones to generate maps and traffic data, which it then shares with other users, offering real-time traffic info.

Officials from both Waze and Facebook are yet to publicly comment about the hottest rumor in social media this morning.