Liz Gannes

Recent Posts by Liz Gannes

Waze Raises Major Funding to Drive Social Traffic Apps

Li Ka-shing’s Horizons Ventures Hong Kong and Kleiner Perkins Caufield & Byers have invested $30 million in social traffic and navigation company Waze.

Waze now has seven million users, up from the two million it had last December, when it raised $25 million led by Blue Run Ventures. The company’s services are powered by passive driving data collected by users, plus their reports of accidents and hazards on the roads.

The Palo Alto, Calif.-based company, which recently rewrote all its apps, expects to dedicate some of its new funding to partnerships, in order to launch in China.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work