Apple to Buy Company that Bashed its Maps App
January 3, 2013 - 10:13am
Apple (NASDAQ: AAPL) is reportedly interested in acquiring Waze, a community-based traffic and navigation app for iOS and Android.
According to TechCrunch, 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 incentives.
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.
While the current iteration is reportedly filled with bugs that cause it ...
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