Amazon Said To Be In Talks To Buy Self-Driving Startup Zoox
Tuesday, May 26, 2020
Amazon may be preparing to make a big move into the self-driving vehicle world as the logistics giant is said to be in “advanced” talks to acquire Zoox, a stealthy developer of robotaxi technology, according to the Wall Street Journal. Along with Amazon, other interested parties are considering offers for the Silicon Valley startup, a person familiar with the matter tells Forbes.
The purchase terms would value Zoox below its estimated market value of $3.2 billion, a level attained after its last funding round, the Journal said, citing people familiar with the matter. There’s no final agreement yet, and the timing of when a deal could happen isn’t clear, according to Forbes’ source. Some Zoox investors are hopeful the company, which seeks to build both its own fleet of robotaxis and the technology that operates them, can remain independent, the person tells Forbes.