cross pond high tech

There can be no doubt that one of the hottest startups of the last couple of years has been social sat-nav smartphone app Waze. Not surprising in an era when – largely due to Apple initially dumping Google Maps in iOS 6 – everyone woke up, as if from some slumber, about the importance of decent mobile maps. Something many had taken for granted was thrown into sharp relief, especially when it became clear that even the mighty Apple was capable of royally screwing up its own maps product. So it comes as almost no surprise to us that there are rumours flying around that Apple is sniffing around Waze with a view to a possible acquisition. After all, Waze is already a data partner for Apple’s Maps app and wasthe only app to gain meaningful marketshare after the Apple Maps fail. We have reached out to both. An apple spokesperson said: “We don’t comment on rumors or speculation.” We got a “we never comment on rumors” from Waze. [UPDATE: Another source confirms that negotiations are advanced, but Waze wants $750M and Apple is willing to do $400M plus $100m in incentives. Waze had less than $1M in revenues last year (primarily from ads). Negotiations may take awhile.]