Apple Looking to Purchase Waze for $400-$750 Million?

Related: Apple, Waze, Social, Traffic

Techcrunch is reporting this morning that Apple is in advanced talks to purchase social traffic App Waze for somewhere in the realm of $400 - $750 million dollars. The site reports that "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."

Waze is a free traffic and navigation app, home to the world's largest community of drivers who work together to fight traffic, and save time and gas money on their daily commute. By simply driving with Waze open, drivers passively contribute traffic info that benefits their local driving community. Drivers can also actively report events such as accidents, police traps, or hazards along the way. Aggregating this crowdsourced road info, Waze provides the best real-time routes that bypass traffic, even re-routing drivers as road conditions change.

The Waze community is over 28 million strong and growing! You can download Waze free in over 25 languages from the iPhone Appstore and Google Play. Start saving valuable time and gas money, and make driving just a little more fun!

For more information on waze, click here.