toggle

AAPL Stock: 102.5 ( + 0.25 )

Printed from http://www.macnn.com

Waze turned down Apple acquistion offer, report claims

updated 04:30 pm EST, Fri January 4, 2013

'Elements of truth' to all reports

Apple and Waze did in fact talk about a possible buyout, but Waze turned Apple down, Next Web sources say. Recently TechCrunch claimed that Apple was offering a total of $500 million for an acquisition, but that Waze was holding out for $750 million. The site quickly reversed course, saying that no serious talks had occurred.

Next Web's sources observe that while Waze was valued at $200 million during its last funding round, current investors were aiming for a higher price with Apple, closer to $1 billion. The sources add that more than one acquisition offer has come through in the past year, but that Waze has said no in every case, hoping to build a bigger company before it considers turning anything over.

In recent months the company has allegedly had many closed-door meetings about its future, discussing prospects such as growth, increasing revenue, and possibly shooting for a stock offering. The company is still trying to settle on a workable business model; a licensing deal with Apple, in fact, has been some of the company's most secure income to date. Some Waze mapping data is featured in iOS 6 Maps.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Kanex KTU10 Thunderbolt to USB 3.0 and eSATA

Apple has never been shy about funky ports -- first it was Apple Desktop Bus, and its own DIN-8 serial port. Following that came FireW ...

Logitech Hyperion Fury mouse

Selecting the correct gaming mouse comes down to finding a device that balances the needs of a user with a price they can afford. Ofte ...

Life n Soul BM211 Bluetooth speaker

Bluetooth speakers aren't only for listening to some music at the park or on a long bus ride, but can also be built with tablets in m ...

toggle

Most Commented