Apple’s Rumored Waze Acquisition Looking More Likely, But Waze Wants A Hefty Payout
Multiple reports surfaced yesterday saying Apple might be interested in acquiring Waze, one of the most successful map apps in the App Store. New reports today indicate that negotiations between the two companies are more advanced than was initially thought, but Apple and Waze are having difficulties settling on a price.
Sources say that Waze, the voice-guided navigation system, is reportedly interested in the idea of being acquired by Apple but is looking for a pretty big cheque of $750 million. Waze collects and analyzes data from active users to improve its service, so this is something that could help Apple improve its own Maps app in a hurry. Considering the negative press, and the number of people looking for a Maps alternative, a Waze acquisition could right the ship pretty quickly.
Apple is reportedly only willing to pay $400 million plus $100 million in incentives. Waze had less than $1 million in revenues last year, mostly from ads. So while negotiations are pretty advanced, there is still a ways to go for the two companies to settle on a price tag that both will be happy with.
Want to know what you could get from a Waze powered Maps app? Download Waze and give it a try — it’s free.
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