Alphabet Inc (GOOGL) Expands Waze, Putting Uber in the Crosshairs

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Alphabet Inc (NASDAQ:GOOG,NASDAQ:GOOGL) — also known as Google — announced that it will be expanding the locations in which it will test Waze.

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The company said that it is excited to tap into the potential of Waze, a ride-sharing app that has some similarities to Uber and Lyft, but it is ultimately a cheaper alternative to both. The first two tests took place in Tel Aviv and the Bay Area, and they were successful.

The Waze Rider companion app will be rolled out in a number of US cities over the coming months, as well as Latin America. The Google project first came to fruition in Tel Aviv, where it was developed.

As previously mentioned, Waze is cheaper and simpler than its rival companies as the plan is to see if the company can get people to pick up and drop someone off on their way to work. “That’s the biggest challenge,” the company mentioned.

A ride in the Bay Area is especially cheap on Waze as you can get from Oakland to downtown San Francisco for $4.50. The same trip with Uber would cost you anywhere between $10 and $12.

Waze has to be booked more in advance than its rivals and it may not be as reliable as other companies. Which one would you rather ride in?

GOOG stock lost 0.7% Thursday, while GOOGL shares slipped 0.7%.

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Article printed from InvestorPlace Media, https://investorplace.com/2017/02/alphabet-inc-google-waze-uber/.

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