"As per latest updates, Waze wants $ 750 million whereas Apple wants to settle for $ 400 M + $ 100 M incentives."
Waze navigation app – How it works, and why it is so awesome!
Founder Uri Levine had launched the app with the idea to empower drivers to share information. When a person is stuck in traffic, they can safely tap the information in the app so other drivers can avoid the route at that time. This way, by the 20% of the country’s population started using the app, it saved on an average five minutes off every day for each driver.
It’s all real time – Waze does not use fancy cars with cameras (like Google Maps) or map database of other companies. Instead, it uses good crowd sourcing. For example, if a road is not on the map, and you, who use Waze app, is driving down the road for the first time, the road will appear on the map. You can also edit the map with map editing tools and give additional information. The real time experience has been so devised, that Waze can automatically detect whether a particular road is say one way by detecting if 100 or so cars are going in one direction only. Waze has tapped the potential of crowdsourcing to enhance user experience and collect real time data.
Waze is the world’s fastest-growing community-based traffic and navigation app. Join other drivers in your area who share real-time traffic and road info, saving everyone time and gas money on their daily commute.
Apple’s decision to acquire Waze is practical and convincing. Especially after it dumped Google Maps and the memorable Apple Maps fiasco, let’s see a nice decent mapping app in place.
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