When Apple's decision to use its own maps instead of Google's turned out to be a bit of a disaster, rumors abounded that it might solve its problem by buying Waze, a company that provides a social navigation app. And it was, in fact, the solution for many disgruntled iPhone users after the map debacle. Facebook was also rumored to have interest in the company. Now, Google is the one rumored to be buying Waze.
Waze's strengths are in real-time traffic information, and adjustments to routes. This is something Google's mapping apps have struggled with. Globes, an Israeli business news publication, was the first to report the Google deal was close, and Bloomberg reported that the deal would be worth $1.1 billion, though Waze has had trouble monetizing its maps in the past.