Google acquired Waze in June last year after being said to have competed against the likes of Facebook and Apple. Though deal was said to be worth around $1 billion, the official numbers were not revealed by either of the companies; until now. Noam Bardin, CEO of Waze has revealed the inside story of how he was forced by his investors to sell, as well as revealing that Google paid $1.15 billion for the Israeli startup. Also Read - Free Fire Max launch in October: Better graphics, minimum requirements, Firelink technology and more
In a blog post on LinkedIn, Bardin writes how he had to bow down to the pressure by Waze investors to go through with the deal. He reveals that one of the company’s mistakes was to dilute the power of the founders during A round investments, which meant the investors had more power than the founding members. Bardin adds that if it were up to him, he would have continued to keep Waze an independent company. Also Read - Google Pixel 6, Pixel 6 Pro: Design, camera, colours, launch date, every rumour you need to know
In another interesting back story, Bardin reveals how Waze could have taken on Google Maps and even be more popular in the US, had it not been for the company’s investors who wanted to play things safe. They wanted Waze to instead concentrate on markets like Singapore and Romania, and steer clear of the US in order to “avoid the inevitable confrontation.” He adds that it was John Malloy of Blue Run Ventures, who later helped the company focus on the US market and eventually become a success there. Also Read - Epic Games vs Apple: Court wants Apple to allow developers use alternative payment methods
The blog gives an interesting insight into the acquisition saga and the post can be read here.