I’m sure most of you have heard of or use Waze, the GPS app. This app has revolutionized the way consumers drive by alerting them of dangers, traffic patterns, and policemen ahead. Many drivers have switched from the traditional Apple Maps and Google Maps to Waze over the last few years, myself included.
In 2006, Ehud Shabtai founded and developed FreeMap Israel, a service aimed to offer users a free map of Israel in Hebrew. 2 years Later he founded the company Waze to commercialize the product. Between 2010-11, Waze raised 55 million dollars to update the app to include real time events. As its traction began to grow, Waze saw an opportunity in the U.S. to capitalize on a market with few competitors. They entered the US in 2013 by Google acquiring them for 966 million dollars.
Currently, Waze is used by over 130 million monthly users. They generate money by using ads that benefit both the app and the user. For example, McDonald’s may see that you are near their restaurant, and show you an add for a BOGO drink. Also, users crowd source the information within the app such as where a crash took place, where a large pothole is, or where a cop is hidden. This separates them from Apple and Google Maps, which do not have this feature.
Waze is an awesome product. They have saved me from multiple traffic tickets. Google even started following their footsteps by adding speed traps to their google maps application.
Waze has definitely been a lifesaver for many people. Seeing real-time traffic updates has made my life so much easier, especially when commuting for work on busy weekends. Having the ability to see hazards, police locations, and traffic jams seems like it should be a feature with every GPS app. Waze most definitely revolutionized the world of GPS.
I personally use Waze all the time, it is a unique app and the delivery of realtime events is extremely useful. The cool part is how Waze became so popular because it set itself apart from most other GPS apps.
Waze is a phenomenal navigation app and I use it all the time. They have revolutionized navigating apps and it is a total life saver at times. Being able to know where cops and accidents are is so useful, and Waze will only get better as more people start using it and reporting more things.
It is interesting to see the progression of this entrepreneurs career. Developing several apps to then develop one as popular as Waze. Thank you for keeping me safe from traffic fines.