Google Buying Wavii After Bidding War With Apple

Discussion in 'MacRumors.com News Discussion' started by MacRumors, Apr 23, 2013.

  1. macrumors bot

    MacRumors

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    #1
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    Google has bought aggregation and summarization startup Wavii for more than $30 million, winning a bidding war with Apple over the firm. TechCrunch is reporting that Apple wanted to integrate the company with its Siri division.
    With more than $135 billion in cash, the $30 million price tag would not have been a significant outlay for Apple, but it appears the company did not value Wavii enough to outbid Google. Wavii had raised $2 million in venture funding.

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    Wavii's iOS app automatically delivers news and status updates on customized topics to users and is available free for iPhone on the App Store. [Direct Link]

    Article Link: Google Buying Wavii After Bidding War With Apple
     
  2. macrumors regular

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    Boston, MA
    #2
    Any chance they can't outbid Google, because the share price tanked while GOOG still seems to be flying?
     
  3. macrumors 603

    Oletros

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    Premià de Mar
    #3
    None?
     
  4. macrumors 6502a

    Joined:
    May 8, 2008
    #4
    Yeah..... I'm going to say no
     
  5. macrumors 6502

    Joined:
    Jun 1, 2010
    #5
    I feel that had Apple would have outbid Google if they felt this company could add significant value to a product that they have been aggressively promoting - Siri. If they decided not to outbid Google then they probably figured the company wasn't valuable enough for them to match what Google was willing to pay.
     
  6. macrumors 6502a

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    #6
    I wonder how much was Apple's bid
     
  7. brinycbri, Apr 23, 2013
    Last edited by a moderator: Apr 23, 2013

    macrumors 6502a

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    #7
    They would buy through cash not equity shares.
     
  8. jasvncnt, Apr 23, 2013
    Last edited by a moderator: Apr 23, 2013

    macrumors 6502

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    New Jersey
    #8
    try quoting what post your referring to
     
  9. macrumors member

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    Jun 11, 2010
    #9
    seems a ridiculous sum for a simple app....
     
  10. macrumors 6502a

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    Location:
    california
    #10
    If Apple bought it, it would have died an instant death.
     
  11. macrumors 603

    Joined:
    Jun 19, 2009
    #11
    Tried the app
    Google over paid
     
  12. brinycbri, Apr 23, 2013
    Last edited by a moderator: Apr 23, 2013

    macrumors 6502a

    Joined:
    Mar 13, 2007
    #12
    Please disregard what I wrote as it has been invalidated by non quote usage.

    Try reading up several posts above or do you want me to point to it for you as well?
     
  13. macrumors 603

    Rocketman

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    #13
    It's pretty clear the $30m threshold is the point at which Apple could author their own code to match the functionality or the stretch functionality they had in mind to begin with. Apple tends to buy firms for the personnel not the tech anyway. Now it will be interesting to see which employees they poach.

    Rocketman
     
  14. macrumors 68000

    KylePowers

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    #14
    I... I would sell myself to Google for $30 million.
     
  15. macrumors 68000

    AZREOSpecialist

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    Mar 15, 2009
    #15
    What does bidding on a company have to do with share price when you have almost $140 BILLION sitting in the bank?
     
  16. macrumors 6502a

    arcite

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    #16
    Good to see Apple values their cash pile. The big battles lie ahead! Let google waste their money on crowd funded fad apps. :rolleyes:
     
  17. macrumors 6502a

    Joined:
    Aug 3, 2010
    #17
    Interesting. :) I liked this app, although I've kind of forgotten about it. It could perhaps be a bit better structured with various topics to follow categorized better, and so on. But best of all is the AI! I could have sworn it was curated by a human, but supposedly it isn't? I'm not really sure... I can absolutely understand Google wanting this. It's an interesting algorithm, and making search more intelligent.
     
  18. macrumors 6502a

    Joined:
    Aug 4, 2007
    #18
    Except Apple has proven time and time again that they're too cheap to hire more engineers to actually keep dedicated resources on projects, and instead shuffle teams around and let products wither on the vine (currently see: iWork, iLife, Aperture, etc.)
     
  19. macrumors 603

    Joined:
    Jun 19, 2009
    #19
    But come one
    Poor apple has margins to worry about


     
  20. macrumors 603

    thekev

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    Aug 5, 2010
    #20
    That would make any sense. If a portion of the sale was to be paid in stock, it would cost them more shares. In either case, neither side will bid indefinitely to the limit of their funds.
     
  21. macrumors 6502

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    SLC, Utah
    #21
    Now that would have been a news story. "Apple buys Wavii for $124 billion."
     
  22. macrumors 6502a

    Poll Smoker

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    Jul 20, 2007
    #22
    You think?
     
  23. macrumors 6502

    Joined:
    Dec 8, 2011
    #23
    Ah yes, content aggregators. The latest fad in the tech industry of creating a product that has no value of its own. I remember the dot com bubble...

    The computer industry is the ultimate short-term-gains productless, industry. That's why there's "so much money" in tech business. It panders to the short-sighted opportunistic attitude better than any other.
     
  24. macrumors 6502

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    LA
    #24
    Tim Cook knows what he's doing :rolleyes:
     
  25. macrumors regular

    Joined:
    Jan 20, 2009
    #25
    wavii looks like a dumb service

    however Apple's web properties need a serious revamp and debug

    because they barely freaking work :(
     

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