According to sources, Waze would like Apple to pay around $750 million for the voice-guided navigation system. The tech giant, however, is “only willing to pay $400 million plus $100 million in incentives.”
In terms of revenues, Waze is said to have made less than $1 million last year, mostly from ads.
News of the possible acquisition first surfaced earlier in the week. At the time, we suggested that this would be a good situation for Apple.
Waze’s biggest selling point is that its international use has been growing. In particular, the software is used successfully in Asia and the Middle East, areas where Apple’s Maps service is limited or non-existent. Plus, given that Waze is already baked somewhat into the existing Maps app, the acquisition would mean a full transition would be far less cumbersome.
What’s all the fuss? If you haven’t already done so, download Waze and take it for a drive. The app is free in the App Store.