Reuters reports that Facebook Inc. is in advanced talks to purchase Israeli mobile satellite navigation start-up Waze, for somewhere between $800 million to $1 billion, according to reports by business daily Calcalist. . Read More

Magma Venture Partners, an Israeli-based venture capital fund that invests in high tech startups, has completed fundraising for Magma III, raising over $100 million according to TechCrunch. Read More

Crashlytics, a crash-reporting tool designed to help mobile app developers for both iOS and Android, announced in a blog post today that it is being acquired by Twitter. Read More

Socially sourced traffic app Waze today cut the ribbon on its road to monetization by launching a location-aware advertising platform. Read More

Social traffic and navigation community Waze today officially launched its free broadcast partner program, an initiative that provides television stations with social engagement and local user-reported traffic updates via a suite of tools designed for broadcasters. Read More