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Facebook rumored to be buying GPS app Waze for up to $1 billion

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Between buying Instagram and calling Facebook Home the "next version" of his social network, it's fairly clear Mark Zuckerberg's obsessed with the prime real estate on your smartphone. Israeli newspaper Calcalist is reporting that Zuckerberg and Co. are eyeing up crowdsourced GPS app Waze, which generates mapping data by pulling it from its users' devices in real time. The paper says that Facebook entered into discussions around six months ago, with prices in the $800 million to $1 billion range being mentioned -- and while that sounds like a big number, it's still only a dollar per user.

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