Apple looking at "Waze" to improve Apple Maps
The latest buzz is that Apple and Waze are negotiating a deal although the two are pretty far apart. Waze, which had less than $1 million in revenue last year, wants $750 million for the company while Apple is offering $400 million. What makes Waze a better fit for Apple than Foursquare is the latter's more limited reach and the idea that a sign-in service isn't as reliable as tracking moving cars is. Waze has added Waze Ads which is a location-based ad network that allows local companies to grab the attention of nearby drivers, another tool that Apple could use. And since the Apple Maps fiasco began, Waze has seen a surge in downloads to 100,000 a day, a 25% increase. At the same time, the app has increased its marketshare to 10% of U.S. Apple iPhone users from 7%.
Will Apple be able to close the deal? Stay tuned!
source: TechCrunch via FierceWireless