Tuesday, October 18, 2011

Social Navigation And Traffic App Waze Raises $30M From Kleiner Perkins And Li Ka-shing - TechCrunch

http://m.techcrunch.com/2011/10/18/social-navigation-and-traffic-app-waze-raises-30m-from-kleiner-perkins-and-li-ka-shing/

"Founded in 2009,Waze offers free apps for the iPhone,Android,Windows Phone 7,BlackBerry and other mobile platforms,that include turn-by-turn navigation for drivers,and at the same time,uses that user data to build out its own maps. If there are issues on the road,such as major traffic jams,all of that information comes in through the apps and can be sent to other drivers.

The apps rely on crowdsourced data,from driver-created maps,to citizen traffic reports, to community-curated points of interest. On average,Waze users are reporting a traffic jam every 4.2 second,and an accident every 44 seconds. With millions of users,that's a massive amount of data."

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