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December 4, 2016 / 4 Kislev, 5777

Posts Tagged ‘Waze’

Chinese Fund Donates $130 million to Technion

Sunday, September 29th, 2013

A Chinese fund, bankrolled by the country’s richest man, is donating $130 million Technion University in a joint venture between the Haifa-based university and Shantou University (STU) to build a new academic facility in Guangdong Province.

The contribution from the Li Ka Shing Foundation is the largest in Technion’s history and one of the largest ever to an Israeli university.

The Guangdong Province and the city of Shantou are earmarking an additional $147 million to fund construction of the new Technion Guangdong Institute of Technology (TGIT) next to Shantou University.

The donation to Technion, made possible in part by profits from the fund’s recent  sale of Waze to Google, will be allocated for the Technion’s home campus.

Jewish Press News Briefs

Savvy Israelis Ahead of US in Smartphone Internet Use

Tuesday, June 11th, 2013

Israel is ahead of the United States and Europe in the use of Internet on smartphones, and Israel is almost at the top of pack in the percentage of people owning smartphones, according to Google and other market surveys.

Israel is the country that gave the world chat instant messaging, disk on-key, Waze and MobileEye, among hundreds of other high-tech gadgets and computer programs.

The smartphone came to Israel in 2009, two years after it was launched in the United States and Europe, but Israelis have made up for lost time.

Approximately 93 percent of Israelis use Internet through smartphone, compared with 83 percent in the United States, and 77 percent watch YouTube, according to Google and Ipsos MediaCT surveys, which examine habits of smartphone use worldwide.

More than 57 percent of Israelis have a smartphone, up from 35 percent last year. At even half that rate of growth, Israelis will be the most smartphone-saturated country in the world next year. The penetration in France is only 42 percent and in Germany is 40 percent.

Approximately 60 percent of Americans are estimated to have smartphones, and 62 percent of Britons have the high-tech gadget.

Israelis have the popular habit of answering phones in the middle of a chupah or Brit Mila. The new marketing surveys show that half of Israelis feel comfortable in using their smartphones at social occasions. When using the smartphones in coffee shops, more than half of the respondents said they use one hand for holding the coffee cup and the other for the smartphone.

When Israelis start trying to speak with the coffee cups and drinking the smartphones, then we knew have a big problem.

Tzvi Ben-Gedalyahu

Google to Buy Waze for $1.3 Billion

Sunday, June 9th, 2013

Google will fork out $1.3 billion to buy the Israeli-based Waze social-friendly navigation app, the Hebrew-language Globes business newspaper reported Sunday. Waze’s staff reportedly will remain in Raanana.

Facebook reportedly was in front of the lineup to buy Waze, but Waze rejected the condition that its staff be transferred to the United States. Waze may also have been holding out for more money, and Google came up with the right price.

Apple had been rumored to be a potential bidder, but Apple CEO Tim Cook denied those reports.

Waze has soared in popularity, with more than 50 million users around the world, and that number is growing every day.

Google has shown that it loves Israel. In 2010, it bought up website gadget developer LabPixies for $25 million and interactive video-clip developer QuikSee for $10 million, and has set up a Google office here. Facebook, on the other hand, has closed down the Israeli operations of most of the companies it bought up.

The Waze app allows drivers using smartphone and tablet to share information on driving times and traffic situations, as well as the location of police radar traps, accidents and hazardous conditions. Based on user-shared information, it helps users find the fastest path to their destination taking into account traffic conditions and preferred routes.

The $1.3 billion price tag is more than 40 times the $30 million of financing Waze received less than year ago, three years after it was founded.  Waze’s founders will be instant multi-millionaires thanks to the Google purchase, which has not been officially confirmed.

But no one has denied the purchase eitehr. Waze told Globes “no comment,” and Google said, “We don’t relate to rumors and speculation.”

The influx of another $1.3 billion into Israel is great news for the Finance Ministry and for anyone purchasing items whose prices are based on the dollar. It is terrible news for exporters and for Israelis whose salaries come from the United States.

The influx of dollars will put downward pressure on the shekel-dollar rate, which dropped last week to 3.61 shekels to the dollar.

Last month. Warren Buffet paid out $2 billion to buy the remaining shares of the Iscar precision tool maker, and PepsiCo and Coca Cola are now rumored to be offering approximately $2 billion for the Israeli SodaStream manufacturer of machines that convert tap water into soda, and which had become an international hit.

The influx of those big bucks, along with the prospects of Israel’s exporting gas and bringing in more foreign currency, has strengthened the shekel. It also is a major headache for corporations and wage earners whose profits and salaries are in dollars and then converted to shekels.

Bank of Israel Governor Stanley Fischer has tried to battle the drop in the shekel-dollar rate by cutting the interest rate by a quarter of a percent, twice in two weeks, and announcing a $2 billion buying binge of dollars. So far, the “Fischer effect” has been negligible and the rate has continued to drop.

Following the report of the Google purchase of Waze, the exchange rate may drop again Monday when currency trading resumes, unless Fischer buys more dollars – lots of them.

Tzvi Ben-Gedalyahu

Waze’s Demand to Keep Jobs in Israel Freezes Facebook’s Bid

Thursday, May 30th, 2013

Israel’s Waze user-based social mapping and navigation startup seems to be too Zionist for Facebook, which has been trying to pay up to $1 billion for the company.

Facebook reportedly insists that the Waze management team re-locate to California from Israel, a condition that money can’t buy, at least not yet, according to the AllThingsD website.

Google, which has an R & D center in Israel, also has been interested in buying up Waze, but Apple denies similar rumors.

The purchase of Waze by Facebook would be logical because Waze’s success is based on drivers reporting to each other traffic conditions and radar traps. Facebook does not offer any mapping services.

Jewish Press News Briefs

Waze. Outsmarting Google and Facebook. Together.

Friday, May 24th, 2013

With the deal Facebook and Waze not yet closed, Google has reportedly jumped into the fray,  making a play for the Israeli start-up company, who’s opening bid is at $1 billion dollars.

There’s another alternative also on the table now, Waze turns down both giants, keeps its independence, and raises money with another round of venture capital.

Waze currently has 40 million registered users, and is generally considered to be best navigation program out there.

Any which way they go, Waze wins.

Jewish Press News Briefs

Is Waze on its Way Out of Israel?

Wednesday, May 22nd, 2013

(((CLICK BELOW TO HEAR AUDIO)))

This week’s show kicks off with Malkah andYishai’s take on Facebook’s purchase of Israeli social media GPS hit WAZE and their battle over WAZE insistence their HQ remain in Israel. Should Waze stay in Israel, is that a value? Is Jewish nationalism a value in the globalized world? Plus, an update on the Fleisher family adventures in Jerusalem as Malkah deals with Yishai’s expanded overseas speaking schedule.

Yishai Fleisher on Twitter: @YishaiFleisher
Yishai on Facebook

Moshe Herman

Waze Defeats Google

Tuesday, May 21st, 2013

Israel’s Waze user-run navigation service easily beat out Google’s app Tuesday night when the Israel Electric Corp. closed down the high-speed Ayalon Highway that runs through Tel Aviv.

Drivers using the Google app, which uses Android devices that broadcast information of traffic, found themselves being directed to the Ayalon even though it was closed, the Globes business website reported.

On the other hand, Waze, which operates on drivers’ reports, directed motorists to alternate routes.

The website noted that Waze learned its lesson from a disastrous mix-up four months when its system directed drivers to the Ayalon, which had been closed due to flooding. Waze later made it possible for drivers to report blocked roads, which saved the day on Tuesday.

Jewish Press News Briefs

Printed from: http://www.jewishpress.com/news/breaking-news/waze-defeats-google/2013/05/21/

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