Apple reportedly in talks to buy Waze, a map app
Apple, whose own map app was a disaster, is reportedly in talks to acquire Waze, a smartphone map app startup.
TechCrunch on Wednesday reported that the two companies have entered negotiations but are hung up on the price.
According to the report, Waze is looking for $750 million while Apple is only offering $400 million plus $100 million in incentives.
The Waze mapping app is for both the iPhone and Android. It crowd-sources data from its users to keep them updated on the latest traffic information. Waze functioned as a data partner for Apple Maps when it debuted in September.
When Apple launched its own map app it demotedMaps, which had been the iPhone and iPad’s default navigation software. However, Apple Maps was poorly received for various reasons, most notably accuracy issues, and the company ended up issuing an apology for the quality of the software.
According to TechCrunch, both Apple and Waze declined to comment on rumors of a deal.
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