Waze: crowdsourced traffic reports

Waze is far and away the hottest, most talked about startup in Israel these days.

It's an internationally popular maps-and-navigation app for 30 million drivers worldwide. Drivers report their traffic problems, which is a great way to get real time traffic info.

At one point, Apple was rumored to be buying Waze. That didn't happen but the company is doing so well that co-founder Uri Levine has become an angel investor in other Israeli startups, like Pixtr, the app that makes people look gorgeous in photos.

Waze has offices in Palo Alto, Calif. and New York.