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Google has confirmed it will acquire the social mapping startup Waze. The news comes after intense reported interest from Apple and Facebook. Unnamed sources put Google's offer at over a billion dollars.

So what does Waze do exactly and why is the company so attractive to Silicon Valley? Mathew Ingram, senior writer at the website GigaOm, joins Marketplace Tech host Ben Johnson to discuss.

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Follow Ben Johnson at @@TheBrockJohnson