You might have read the rumors about a Facebook acquisition of Waze for a billion dollars. But, unfortunately, it looks like Google is near to do it it for 1.3 billion.
Waze is a free GPS navigator that uses users contributions to update maps and give information about traffic and speed traps. It's the most popular free alternative to Google Maps.
If the acquisition won't be forbidden by regulators, in a few months it will be disabled, as it happened for Sparrow, Meebo, BumpTop, Wavii...
What a pity...