WSJ: Amazon in Advanced Talks to Buy Self-Driving Startup Zo
Posted: Tue May 26, 2020 7:53 pm
FILE - Aicha Evans, CEO of the self-driving technology development company Zoox, speaks during a keynote session at the Amazon Re:MARS conference on robotics and artificial intelligence in Las Vegas, Nevada, June 6, 2019.
Amazon.com Inc is in advanced talks to buy self-driving startup Zoox Inc, in a move that would expand the e-commerce giant's reach in autonomous-vehicle technology, the Wall Street Journal reported on Tuesday.
The deal will value Zoox at less than the $3.2 billion it achieved in a funding round in 2018, the Journal reported, citing people familiar with the matter.
An agreement may be weeks away and the discussions could still fall apart, the report added.
Amazon has stepped up its investment in the car sector, participating in a $530 million funding round early last year in self-driving car startup Aurora Innovation Inc.
Both Amazon and Zoox declined a Reuters request for comment.