Google Maps just got a massive overhaul, but the company might be about to throw even more money at its navigation system. Bloomberg reports that Google has approached the popular crowdsourced mapping and traffic app Waze about a potential acquisition. Facebook is also reportedly looking at Waze, of course, with sources saying that the social network might be willing to pay up to $1 billion for the app, though one source for Bloomberg suggests that Waze is looking for upwards of $1 billion. There could be a bidding war, but neither bidder is close to a deal right now according to the publication.

Bloomberg's sources claim that a number of tech companies approached Waze after the Facebook rumors, and speculates that it might not just be because Waze seems receptive to the idea: should Google or another mapping company purchase Waze, that might keep Facebook from becoming a competitor.

Apple, which currently uses some Waze data in its iOS 6 Maps service, is allegedly not one of the companies discussing a Waze purchase at the moment.