1. FAST LANE

    Google Buys Mapping Startup Waze

    Paul Sakuma/AP

    Google further solidified its mapping dominance today with the purchase of Waze, an Israeli mapping startup. Waze uses satellite signals from members’ smartphones to create real-time maps with traffic information and faster routes. “Imagine if you could see real-time traffic updates from friends and fellow travelers ahead of you, calling out 'fender bender...totally stuck in left lane!’ and showing faster routes that others are taking,” wrote Google Geo Vice President Brian McClendon. Waze, which will remain based in Israel, has 47 million users. Google reportedly paid $1.3 billion for the company.

    Read it at Reuters