Apple CEO denies bidding for Israeli start-up Waze

Successful traffic and navigation reporting app reportedly subject of bidding war between Facebook and Google.

By NOA PARAG, TZAHI HOFFMAN / GLOBES
Waze navigation application 370 (photo credit: Courtesy Waze)
Waze navigation application 370
(photo credit: Courtesy Waze)
Apple CEO Tim Cook distanced himself from Israeli navigation and traffic reporting app Waze Ltd.
In an interview with the technology news site "All Things Digital" on Tuesday, Cook denied reports that Apple submitted a bid to purchase Waze.
As for the problems with the Apple Maps app, Cook said, “We screwed up. It’s greatly improved, but not there yet. We have more to do."
In January, TechCrunch and Israeli site Newsgeek reported that Apple would acquire Waze for $400 million. Apple executives denied the report at the time and Waze declined to comment.
If reports in the blogosphere are reliable, Waze is the subject of a bidding war between Facebook and Google, with both companies reportedly offering $1 billion for the crowdsourcing navigation and traffic reporting app.