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iPhone: Article

Apple Reportedly Niggles Over Price of Waze

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

By Maureen O'Gara
Article Rating:
January 4, 2013 09:00 AM EST
Reads:
 2,189

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.

Published January 4, 2013 – Reads 2,189
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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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