Facebook (FB) Lower as Waze Discussions Said to Break Down
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Facebook (Nasdaq: FB) is lower Wednesday amid speculation that a potentially key acquisition might not happen after all.
AllThingsD noted today that talks between social media giant Facebook and social mapping and navigation startup Waze have fallen apart.
Mainly, the conflict arose over whether or not Israel-based Waze would need to pack-up shop and move over to Facebook's Menlo Park, CA, location.
With Waze, Facebook would have gotten another potential revenue stream for its mobile effort, something many analysts and investors would like to see happen.
It was earlier reported that Facebook was willing to pay $1 billion for Waze, which many thought was a little high.
Though speculation has surrounded whether or not Apple (Nasdaq: AAPL) would make a run at Waze, CEO Tim Cook denied the rumors at ATD's D11 Conference on Tuesday.
Facebook is down about 2.5 percent on the session.
AllThingsD noted today that talks between social media giant Facebook and social mapping and navigation startup Waze have fallen apart.
Mainly, the conflict arose over whether or not Israel-based Waze would need to pack-up shop and move over to Facebook's Menlo Park, CA, location.
With Waze, Facebook would have gotten another potential revenue stream for its mobile effort, something many analysts and investors would like to see happen.
It was earlier reported that Facebook was willing to pay $1 billion for Waze, which many thought was a little high.
Though speculation has surrounded whether or not Apple (Nasdaq: AAPL) would make a run at Waze, CEO Tim Cook denied the rumors at ATD's D11 Conference on Tuesday.
Facebook is down about 2.5 percent on the session.
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