WAZE, FACEBOOK AND ALL THAT BIZ...

(Photo: Copyright Control)

Facebook has approached the Israeli company Waze, the social mapping and traffic app maker in a deal that could be between $800 million and $1 billion. The negotiations between the social network and crowd sourced mapping app apparently began six months ago. Facebook has already purchased two Israeli companies. Those were of feature phone interface developer Snaptu, bought in March 2011 and facial recognition specialist Face.com purchased in June 2012.