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Facebook, Waze and the falling cost of mapping technology

from Street Fight

Facebook is reportedly in serious talks to buy social mapping app Waze for a whopping $1 billion in cash and stock, an acquisition that would underscore the growing importance of mapping and navigation functionality to the Web’s major players. A lot of digital ink has been spilled about why Facebook would want to snap up Waze — namely, the company's 40 million mobile users. But the discussions also verify the once-unthinkable reality that a startup could scale a navigation and mapping service into a billion-dollar business in five years. more

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