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Apple Reportedly Niggles Over Price of Waze

The three-year-old Israeli-born Waze uses crowdsourcing to plot routes around traffic jams

Apple reportedly wants to buy Waze to help fix its giant maps gaffe but according to what TechCrunch heard it doesn't want to spend the $750 million asking price. It's reportedly offering $400 million plus $100 million in incentives.

The three-year-old Israeli-born Waze uses crowdsourcing to plot routes around traffic jams and in the process create real-time maps.

It's said to have shaved five minute off the daily commute in Israel.

The sat-nav ad-based program is free but the community it's developed should be responsible for its valuation.

Kleiner Perkins has money in the start-up. So far it's raised $67 million plus a million dollars in revenue last year.

More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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