Is Apple Taking the Quick Route to a Maps Fix?
Apple’s (NASDAQ:AAPL) attempts to fix its calamitous iPhone maps app may be getting a big boost with the company’s rumored attempts to acquire crowd-sourced traffic and navigation service Waze. According to TechCrunch, Apple is exploring a potential takeover of the free iOS app that claims it has more than 30 million active users.
The iPhone maker replaced Google’s (NASDAQ:GOOG) maps app, which had been a preloaded service on Apple’s mobile devices since 2007, with the launch of iOS 6, but was quickly swamped with widespread criticism from users and reviewers alike. Waze was one of the mapping applications recommended by Apple as an alternative to its homegrown service in Tim Cook’s apology letter to users following the bad press.
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Chief executive Cook had also promised that Apple would work hard on improving its own application. Waze, which lets users share real-time information on traffic, gas prices, accidents, checkpoints, etc., is already a data partner for Apple’s maps app, but including its services more fully may give the iPhone maker a quicker escape route.
TechCrunch sources said that while negotiations were at an advanced stage, Apple was only willing to offer $400 million plus $100 million in incentives, while Waze demanded $750 million.
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