Waze collects map data, travel times, and traffic information from users and transmits it to the Waze server, free to Waze. Waze users (“Wazers”) can report accidents, traffic jams, speed and police traps, and, from the web map editor, can update roads, landmarks, house numbers, etc. Waze sends anonymous information, including users’ speed and location, back to its database to increase the service as a whole.
Based on the information collected, Waze is then in a position to provide routing and real-time traffic updates. Waze can also identify the least expensive fuel station near a user or along their route, provided Waze has enabled fuel costs for the country.
Waze can be utilized anywhere in the world but requires enough initial users to produce the maps and continually update data to make it useful. Currently, only 13 countries have a complete base map; others are incompletely mapped, requiring users to record roads and edit maps.
Waze offers turn-by-turn voice navigation, real-time traffic, and other location-specific alerts. Waze encourages users to report traffic or road hazards by offering points.
Waze (Hebrew: ווייז, /weɪz/; formerly FreeMap Israel) is a Navigation software iphone app and a subsidiary of Google. It works on smartphones and tablet computers which may have GPS support. It offers turn-by-turn navigation information and user-submitted travel times and route details, while downloading location-dependent information over a mobile telephone network. Waze describes its iphone app as a community-driven GPS navigation app, which is absolved to download and use.
The Israeli company Waze Mobile developed the Waze software. Ehud Shabtai, Amir Shinar, and Uri Levine founded the business. Two Israeli capital raising firms, Magma and Vertex Ventures Israel, and an early-stage American capital raising firm, Bluerun Ventures, provided funding. Waze Mobile was acquired by Google in June 2013.
The software generates income from hyperlocal advertising to around 130 million monthly users. Visit this website to get more insight, Waze patents
Waze and Social Mapping
Google isn’t sitting still for the socialization of Apple Maps.
Lately, Facebook was supposedly negotiating with a corporation building social maps, a mapping social Software Company founded in Israel in 2008. The offer for the company was rumored to be over $ 1 Billion. The transaction supposedly fell through because the Waze team didn’t want to relocate from Israel.
Apple was also a target of rumors about an acquisition of Waze, but that was before the Apple social mapping patent application was made public.
On June 11th, the Official Google Blog announces the acquisition of Waze in the post Google Maps and Waze, outsmarting traffic together.
I took a glance at the patent filings assigned to Waze at the USPTO, to get a much better idea of what that they had spent time and effort and energy researching and working upon.
Device, system, and method of dynamic route guidance. For instance, a way includes: calculating an optimal route from a first location, when a navigation device is located, to a destination point entered by a user of the said navigation device; acquiring from the navigation device a travel update, indicating that the navigation device is found in another location, wherein the next location is on said optimal route; and predicated on real-time traffic information and real-time road information, deciding that an alternate route, from the second location to the destination point, is currently an optimal path to the destination point.