Rumors are floating around the internet claiming giant tech company Apple is looking into buying Waze, the Israeli-developed social GPS app.
Waze is pretty sweet in that its a community-driven navigation system where its users can report real-time traffic updates, accidents, police, and speed traps– oh, and its free!
Waze was originally created by three Israeli engineers in 2009, and made incredible progress over the years, but hit its peak popularity in the App store after Apple dumped Google Maps for their iOS 6 this past summer. When Apple unveiled their Apple maps, which royally bombed, CEO Tim Cook suggested iphone users try Waze in his apology letter, and their amount of users increased exponentially ever since .
Waze now boasts 30 million users strong, and sources told TechCrunch the negotiations are already under way. Apparently Waze wants $750 million while Apple is willing to hand over $400 million plus an additional $100 million in incentives. Negotiations might take some time, but since Apple’s mess up with their own map system, our bet is they will sign the deal.
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