Apple Inc. should have bought mobile-mapping application developer Waze Ltd. at any cost, investor and Benchmark partner Bill Gurley tells Bloomberg Television’s Emily Chang in a wide-ranging interview.
“If you’re going to pay $3 billion for a headphone company, $2 billion for a maps company is a no-brainer,” Gurley said in an interview. He also said Apple should have bought Nest Labs Inc. if only to bring the company’s CEO and co-founder, Tony Fadell, back to Apple. Instead, Google Inc. paid $969 million for Waze and $3.2 billion for Nest.
An investor in Uber Technologies Inc., OpenTable Inc., Nextdoor.com Inc., Gurley warned of technology startups taking on too much risk. He singled out advertising-technology, e- commerce and cloud-software companies operating at burn rates that are far too high.
“We’re being more picky, for sure,” Gurley said.
Gurley was one of Uber’s earliest investors and is on the board of the car-booking startup. The interview was conducted in October before Uber’s recent controversies, including talk of targeting of journalists and the arrest of a driver in India on charges of sexually assaulting a passenger.
To contact Bloomberg News staff for this story: Emily Chang in San Francisco at firstname.lastname@example.org To contact the editors responsible for this story: Pui-Wing Tam at email@example.com Reed Stevenson