Sunday, July 12, 2020

Amazon to take over autonomous startup Zoox for more than $ 1 billion

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Amazon.com has agreed to pay more than $ 1 billion to buy Zoox, a new autonomous company, The Information reported Thursday, citing sources, in a move that would expand the reach of the e-commerce giant in autonomous vehicle technology.

The report did not mention the exact purchase price, adding that Amazon is unlikely to reveal it when the deal is announced, likely on Friday.

Most Zoox investors are getting their money back, and some are making a positive return, the report adds. Lux Capital, DFJ and Atlassian co-founder Michael Cannon-Brooks are among the investors.

Amazon and Zoox did not immediately respond to a request for comment.

The Wall Street Journal reported last month that the companies were in advanced talks and that the deal could value Zoox at less than the $ 3.2 billion it achieved in a funding round in 2018.

Amazon has increased its investment in the automotive sector, participating in a $ 530 million financing round early last year in the launch of autonomous Aurora Innovation cars.

Tech Central

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