) is reportedly interested in acquiring
, a community-based traffic and navigation app for iOS and Android.
, Waze was the only app to gain "meaningful market share" after
Apple's own mapping program failed. The company believes that it
has a lot to offer and reportedly wants as much as $750 million for
the buyout. Apple hopes to pay $400 million plus $100 million in
By acquiring Waze, Apple would gain access to 30 million drivers
who already use the app. These drivers make up the Waze community,
which uses real-time info to provide users with the fastest route
to any particular destination. The app also alerts drivers as they
approach police, accidents, road hazards and traffic jams.
is reportedly filled with bugs that cause it to crash, Waze has a
4.5 star rating across all versions of the app. The CNET user score
, but the level of reviewer praise seems to be just as extreme.
"Waze is definitely the best navigation on the App Store to
date," one user wrote in July. "It gives turn by turn directions
and tells you where cops are or where there is a large amount of
traffic. AND IT'S FREE!!!!"
Numerous reports have claimed that Apple already licenses some
of Waze's technology, but neither company will confirm those
rumors. Regardless, Waze CEO Noam Bardin did not hold back in
exactly what he thought of Apple's ill-fated Maps app.
"Apple went out and partnered with the weakest player," he said,
referring to TomTom (OTC:
). "They're now coming out with the lowest, weakest data set and
they're competing against Google, which has the highest data
Apple surprised the world when it ousted Google Maps (NASDAQ:
) from iOS 6. The search engine giant recently released a new
Google Maps app to rectify the situation. In the days after its
more than 10 million people
downloaded the app to iOS 6.
In addition to Waze, Apple
to be interested in acquiring TomTom. With a market cap of more
than $2 billion, TomTom would be considerably more expensive than
(c) 2013 Benzinga.com. Benzinga does not provide investment advice.
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