Israel-based newspaper Globes, which reported the news, did not reveal where its information came from.
Last month Reuters reported Waze was a buyout target for Facebook, which was said to be prepared to pay between $800m and $1bn for the business.
The community-based traffic and navigation app allows drivers to share real-time traffic and road information.
By driving with Waze open on their smartphones, users passively contribute traffic and other road data and can share road reports on accidents, police traps and any other hazards.
To date Waze has raised over $92m from investors including Kleiner Perkins Caufield & Byers, Horizon Ventures, Blue Run Ventures, Magma Venture Partners and Vertex Venture Capital.
The company, which also has offices in Menlo Park, raised a $30m Series C in October 2011, a Series B round of $37m and a $25m Series A in December 2010.
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