Waze Navigation guide launches monetization
Waze is a social traffic & navigation app based on the world’s largest community of drivers sharing real time road info and contributing to the “common good” out there on the road. By simply driving around with Waze open users passively contribute traffic and other road data. Users can take a more active role by sharing road reports on accidents, police traps, or any other hazards along the way, helping to give other users in the area a "heads-up" about what’s to come.
Waze is launching its own ad platform, allowing advertisers to insert ads that users can see on their maps and search results when they navigate to their destination. Waze believes these “location-guided” ads can succeed because they incorporate where a user is headed.
Now the company is hoping that’s a recipe for serious revenue as it turns on its first location-based advertising platform called Waze Ads. Retailers and brands can pay to insert themselves into Waze’s maps and search results when their locations are on the route of Waze users. So when a Waze user launches the app to navigate to work, home or some other location, they will be able to see ads and discounts from a gas station, restaurant, coffee shop or store pop up on their navigation map. Waze will not show more than three ads on a map at any given time.
SOURCE: Gigaom.com, CrunchBase.com