Waze Founder Recounts Turning Down $23 Billion Offer from Google

Waze co-founder and CEO Asaf Rapaport revealed in a rare interview that the company initially rejected a $23 billion acquisition offer from Google in July 2024, despite having already informed employees of the deal. Rapaport explained that the decision to decline the offer, which would have been the largest in Israeli tech history at the time, stemmed from a gut feeling that it was too early to sell and that Waze still had significant growth potential. He stated that the ultimate decision rested with him, though his three co-founders, Ami Luttwak, Ynon Koslovsky, and Roi Razinik, were instrumental in the company's success.

Waze, founded in 2020 by four veterans of a previous company, Adallom, which was sold to Microsoft, had become the world's largest private cyber company within four years. By early 2024, it raised $1 billion at a $12 billion valuation. After the initial rejection, Google returned with a revised offer of $30 billion, which Waze also initially declined. However, a subsequent meeting with Google CEO Sundar Pichai led to a finalized deal of $32 billion in March 2025, which closed in 2026. Rapaport estimates his personal net worth from the sale to be around $2 billion before taxes.

Rapaport also addressed the controversial decision to move Waze's funds out of Israel in 2023 during the judicial reform protests, characterizing it as a purely business decision, not political, and one that proved correct in hindsight. He also discussed his recent acquisition of Israeli media company Channel 13, expressing concerns about free media being under attack and his commitment to building it as a patriotic, democratic, and independent organization, while denying government attempts to force its closure.

In a more personal segment, Rapaport spoke about his upbringing with an absent father and a strong single mother, and reflected on the male-dominated nature of the cyber industry. He noted that it is difficult to be gay in the field, but even more so to be a woman, emphasizing the need for greater inclusivity. Rapaport cited Amos Oz's philosophy of 'tikkun olam' (repairing the world) as the motivation for his public and business activities.