“Rumors of the potential Apple acquisition of Waze lit up the blogosphere this week, only to be extinguished the very next day,” Matt Brian reports for The Next Web. “However, a deal was very much on the table, but the Israeli startup politely declined Apple’s offer.”
“While it has been reported that Waze was holding out for $750 million, multiple sources have told us that the company was valued around $200 million in its last funding round, and current investors were aiming for a higher price, somewhere nearing $1 billion,” Brian reports. “Waze politely declined [Apple’s reported $500 million] offer, and the deal is definitely off – at least for now.”
Read more in the full article here.
cue WSJ Headline in 10, 9, 8, 7 ….
Microsoft Strikes $1B Deal After Apple Says No Waze!
Ha ha. Awesome
if they paid $6 billion for skype, they will pay 7 for waze
+$7B! 😉
You think that’s news!!!! Check this one out. My heart sunk.
http://www.bloomberg.com/news/2013-01-04/microsoft-s-windows-8-lifted-by-617-million-defense-deal.html?cmpid=yhoo
Waze will regret this opurtunity which will not come it’s way again, it’s 200m valuation is optimal.
Waze is a waste of money.
The reports around this deal have been nuts. Not sure I believe any of it now, more like Waze PR telling porkies to value themselves higher..
I like a lot about Waze and use it frequently. It needs Apple’s touch to make it more user friendly and intuitive but the user road condition feedback system has many strong points and if enough people use it, the speed info can automatically generate traffic volume reports and maps.
I find the graphics in Waze to be childish and unbearable, but I really like the features. Pity they sent Apple packing, especially after Apple set up that research division in Haifa.
I’ve never used waz and actually got to where I wanted to go… It was always and I mean ALWAYS wrong… I have up after a month or so. Only to ry it again a year later with the same results..
I don’t understand anything if what you just said. You confused or just mad spell checker?
Earlier today, I read a report that Waze had less than $1 million in revenue last year. I’m not sure what kind of premium Waze’s cash flow commands, but I bet it isn’t 750:1. That’s an insane multiple. Because of that, it seems to me that someone inside of Waze is trying to inflate the company’s value to get more funding or possibly get into a better negotiating position with another party.
A waste of money, Apple save the money roll up your sleeves, nose to the grindstone and get to work one map at a time, Apple maps, Siri, and search like OS X or iOS are simply long term infrastructure projects, short term thinkers need not apply.
It’s an honor to be bought by Apple.