Waze holding out for $750M from Apple, source says
Thursday, January 3, 2013 @ 9:20am
Negotiations for an Apple buyout of Waze are actually well underway, although Waze is holding out for a larger sum, a TechCrunch source now says. Waze is reportedly angling for a $750 million deal, while Apple is only willing to offer $400 million in straight cash plus another $100 million in incentives.
Waze pulled in less than $1 million in revenue last year, mostly via advertising. But the company's socially-based traffic and navigation content may be extremely valuable to Apple, since it could help fix coverage and inaccuracies in iOS 6 Maps. The app already uses some data from Waze, but a buyout would give access to all of it, plus social networking features unique to Waze's service.
No comments posted on this story yet. Please post yours.
Your Comments
In order to post comments, you must be a registered member of the
MacNN Forums and logged in. Please login with your MacNN Forums username and password.
Not a member of the MacNN forums?
Register now for free.
