Today, an app headquartered in Israel called Waze was acquired by Google. The price: $1 billion, plus $100 million in employee retention and incentives. Waze is an interactive navigation app for iOS and Android with more than 40 million registered users. It was founded in 2007 by Ehud Shabtai, Amir Shinar and Uri Levine. Noam Bardin is the company's CEO. It previously raised $67 million from investors. Now you know what it is.