Waze & Odyssey
Waze Mobile Ltd, (; Hebrew: ווייז מובייל בע"מ) doing business as Waze (ווייז), formerly FreeMap Israel, is a subsidiary company of Google that provides satellite navigation software on smartphones and other computers that support the Global Positioning System (GPS). In addition to turn-by-turn navigation, it incorporates user-submitted travel times and route details while downloading location-dependent information over a cellular network. Waze describes its application as a community-driven initiative that is free to download and use.
The software was originally developed in Israel by Waze Mobile, a company founded by Israeli entrepreneurs Ehud Shabtai, Amir Shinar, and Uri Levine, who are also veterans of Unit 8200. Funding for the initial project was provided by two Israeli venture capital firms, Magma and Vertex Ventures Israel, as well as by an early-stage American venture capital firm, Bluerun Ventures. In June 2013, Waze Mobile was acquired by Google for US$1.3 billion.
The application generates revenue through hyperlocal advertising to an estimated 130 million users.
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