“Facebook is in talks to buy Israeli crowdsourced traffic and navigation app, Waze, for $1 billion.,” Peter Cohan reports for Forbes. “But should Apple get back into the bidding?”
“Last year, Apple had some problems with Apple Maps – the flawed mapping software with which it decided to replace Google Maps. And this January, Apple was in talks to acquire Waze for a reported $500 million.,” Cohan reports. “That deal might have helped Apple get an edge in giving iPhone and iPad users access to real-time traffic information to go along with their maps.”
Cohan reports, “Now Israel’s Calcalist reports that Facebook is in talks to acquire Waze for a price between $800 million and $1 billion; both companies have signed a term sheet; and Facebook is doing due diligence. Apple could come back to Waze but unless Tim Cook offers a much higher offer than Facebook — one it can certainly afford — a meeting of the minds is unlikely. That’s because Waze CEO Noam Bardin does not appear to be eager to team up with a company that is in his mind a model for failure.”
Read more in the full article here.
MacDailyNews Take: Heckuva job, Scottie. As we foretold, the stench of failure that you left on Apple Maps lingers persistently.
Related articles:
Waze CEO: We assumed Apple Maps ‘wouldn’t be that good’ – April 16, 2013
Waze CEO: Apple Maps ‘would have been an amazing product’ two years ago – April 15, 2013
Apple’s Maps debacle give big boost to Waze – February 27, 2013
Apple did offer to buy Israeli startup Waze, but Waze politely declined, sources say – January 4, 2013
Tim Cook open letter: We fell short with new Maps app; we are extremely sorry – September 28, 2012
Waze CEO: Apple going ‘thermonuclear’ on Google Maps – June 15, 2012
Apple using Waze data in new iOS 6 Maps – June 13, 2012
OH NO!!!!!!!!!! I love Waze! I would have to stop using it if Stalkbook buys it!
I must say, that’s the first thought that came to my mind, as well.
Agreed, however, Apple should buy TOM TOM not WAZE.
Interesting I read only last week how confidence in Facebook is progressively waning as its ability to remain dominant in its field is increasingly arguable and thus its value flimsy too as new options enter and eat away at it in the market place. So not sure about which is the right model for failure.
Yea they probably should but the problem what that would be that they would get allot of hardware with them that they would have to sell, to whom?
From what I can see, the progress Apple has made with Maps, and it’s present advantage over Google’s traffic applications, Apple doesn’t need Waze.
And Facebook?…FACEBOOK? REALLY?!! Businesses that try to put a corral around internet users are a recipe for failure. How’s Compuserve doing these days? AOL? I wouldn’t touch Facebook with a 10 foot pole.
First of all, Apple maps is a fine product. I have not experienced ANY problem with it. I have however noticed that waze can’t even get my home location correct. Why would Apple want to buy them and go backward? Spend the billion on continued development of Apple maps and forget about Waze because soon they will be a Wuz.
Buy Waze some flowers, take Waze to dinner someplace cozy and charming, and say nice things to Waze….she will come around.
Give ’em 1.5 billion, and let them stay in Israel.
According to Globes, a business web site in Israel, one of the issues under discussion is whether Waze would stay in Israel, as Facebook has a pattern of buying the technology, bringing the talent to California, and shuttering the original company.
Apple took a different path when they bought Anobit, which specializes in flash memory. Apple did more than make them Apple employees. They elected to (finally) set up a development facility in Israel -right near Intel and Microsoft, down the hill from IBM. Apple even hired scores of engineers let go by Texas Instruments.
The Waze deal reportedly will be half cash, half stock. If the sale goes through Waze might regret that it’s FaceBook stock.
Why does Apple act like such a bitch at the negotiating table? They obviously want the company yet once again they allow others to come in and outflank them despite the fact that they have more money than anybody on the planet. One upped bid and they’re walking away with heads down, hands in pockets. Get back in there and take those bums out…cause Mickey loves ya.
Because Apple staunchly refuses to overpay for a company, unlike Google, Microsoft, Yahoo!, FaceBook, etc. Apple doesn’t make major acquisitions, because those types of companies are typically very expensive and very difficult to integrate into your company.
Apple could much more easily put $1 Billion straight into Maps development and come up with a much better product than Waze has currently. It’s just FaceBook throwing stupid money around.
“Apple could much more easily put $1 Billion straight into Maps development and come up with a much better product than Waze has currently.”
Then why not just put $500 million into Maps rather than bidding for Waze in the first place? It’s obviously not that simple. Apple’s just being cheap. I don’t see how they’ll ever acquire another company again when they lay down so easily.
Good idea, sink 500 Million into Maps and forget about Waze.
LOL. Apple “acquires” companies all the time. Some come to mind Emagic, Schemasoft, FingerWorks, Silicon Color, Proximity, P.A. Semi, Placebase, Lala.com, Quattro Wireless, Intrinsity, Siri, Poly9, Polar Rose, IMSense, C3 Technologies, Anobit, Chomp, AuthenTec, WiFiSlam and the list goes on and on, these are just a few of the companies apple has bought out and a lot of those very recently.
Like was said above Apple will not pay over inflated prices for a company if it is not worth it. Unlike google who buys anything for any price like the worthless 12.5 billion for motorola, and yes they have sold parts of it to try and recoup there losses but it was a stupid impulse purchase and a very reckless one.
Facebook like was said is just blowing money for the sake of blowing money.
Apple is going to get the short end again- just like when they tried to lowball on mobile ads. Or Siri, that used to run better on ALL iOS devices before Apple bought it and screwed it up.
On the other hand, FarceBook is the kiss of death. The 15 minutes for FarceBook ended a long time ago.
The hint that Waze thinks Apple will fail is typical of many companies when Apple gets into a new market. Let’s look back, iPod, iPhone, iPad. All were supposed to be big failures and nobody would buy them according to competing companies. They were all WRONG! Same goes with Apple maps. I’ve used it several times without a hitch. More whining on the internet about nothing then real problems with it. Apple is working on the issues it did have and if they bought Waze then they wouldn’t have to rely on GPS vendors anymore.
Not quite true. Apple would need more data than Waze can provide.
When are people gonna get this?! Apple maps is a work in progress. An excellent work in progress to say the least. Apple will achieve in 18 months what took others years to try and achieve. Apple is a work in progress. Apple is constantly evolving and evolution cannot fail.
Remember that this is the same CEO that that recently let it slip that he’d had talks with Apple about a buyout. His comments about Apple are a gambit to up the bidding. There is absolutely NO reason to believe that Waze wouldn’t sell to the highest bidder. Besides, regardless of the quality of the initial release of Maps, it is well known that that Apple has corrected much of the original problems and continues to improve the software. Anyone with half a brain has to recognize that Apple with iOS on iPhone and iPads with Maps is in a far better position than Facebook to utilize Waze if they chose to acquire that company.
Someone please explain to me how facebook is in any better position then Apple? Last time I checked Fcebook does not own a mapping company and would therefore have to depend on other company’s maps as well.
$1 billion too much.
Stench of failure? Really MDN? I think most would agree Maps is damn good and even better than anything out there.
I agree. MDN is perpetuating the meme that Maps sucks. It’s flawed, but it does not suck. Okay MDN, we get it. Maps was not ready for primetime when released. We also know WHY Apple felt they had to roll it out when they did. Give it a rest. You are no longer adding to the conversation.
Agreed. Usually brilliant. Once Maps got me to the correct street, but three blocks off. I could have whined on the Web, but I was able to use the immense power of my mammal brain to correct location.
$1.00 ok.
What I don’t get is why Facebook is wasting all its money stuff like this. Instagram, with a billion dollars? You got to be kidding me. It’s an App to upload picture… Not a space station or a new revolutionary drug… Was is just a crowd sourced map App. I would not bet out something that is crowd sourced for the long term and 1 billion dollar? Again? And even more puzzling what is Facbook going to do with its own maps? They would be much better off out sourcing that to its lower Google. Makes much more send for Apple to have Maps than Facebook. It almost feels like a me2 situation with Facebook rushing in blindly and confused scared to miss out one something but they don’t really know what but they know they want Waze… And these days ridiculous valuations are thrown around all the time. I think some companies forget how much a billion dollar is. Facebook needs this for other stuff I believe.