|By Maureen O'Gara||
|January 4, 2013 09:00 AM EST||
Apple reportedly wants to buy Waze to help fix its giant maps gaffe but according to what TechCrunch heard it doesn't want to spend the $750 million asking price. It's reportedly offering $400 million plus $100 million in incentives.
The three-year-old Israeli-born Waze uses crowdsourcing to plot routes around traffic jams and in the process create real-time maps.
It's said to have shaved five minute off the daily commute in Israel.
The sat-nav ad-based program is free but the community it's developed should be responsible for its valuation.
Kleiner Perkins has money in the start-up. So far it's raised $67 million plus a million dollars in revenue last year.
- Source Claims SCO Will Sue Google
- Latest SCO News is Plain Weird
- SCO Claims Linux Lifted ELF
- IBM Tells SCO Court It Can't Find AIX-on-Power Code
- HP Starts Pushing Desktop Linux
- Linux Business Week Exclusive: Linux Kernel To Be Re-Written To Counter Microsoft FUD
- CSN Asks Judge To Unseal the SCO-IBM Court Record
- IBM's Got Its Head in the Clouds
- Noorda's Daughter Committed Suicide
- SCO vs IBM Latest: SCO To Request Unsealing of Most Documents, Claims O'Gara