updated 09:20 am EST, Thu January 3, 2013
Buyout talks said to be 'advanced'
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.