Bulletin
Investor Alert

The Wall Street Journal Archives | Email alerts

May 26, 2020, 9:00 p.m. EDT

Amazon in talks to buy driverless-technology startup Zoox

Deal could be for less than $3.2 billion was valued at in 2018

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Amazon.com Inc. (AMZN)

or Cancel Already have a watchlist? Log In

By Cara Lombardo and Tim Higgins


AFP/Getty Images
Aicha Evans, CEO of Zoox, talks about autonomous cars during a keynote session at the Amazon Re:MARS conference in Las Vegas in 2019.

Amazon.com Inc. is in advanced talks to buy Zoox Inc. in a move that would expand the e-commerce giant’s reach in autonomous-vehicle technology.

The companies are discussing a deal that would value Zoox at less than the $3.2 billion it achieved in a funding round in 2018, according to people familiar with the matter. An agreement may be weeks away and the discussions could still fall apart, one of the people cautioned.

Zoox, founded in 2014, has been working to develop the hardware and software needed to create electric-powered, robot taxis that would be summoned by smartphone app starting this year.

A successful deal could give new life to a once-high-profile startup that has seen its fortunes dim as it struggled to raise money. Amazon /zigman2/quotes/210331248/composite AMZN +0.40%   a few years ago created a team devoted to driverless-vehicle technology, motivated in part by a push to transport more of its goods itself. It has made several investments in the area, including last year when it participated in autonomous-technology firm Aurora Innovation Inc.’s $530 million funding round.

An expanded version of this report appears on WSJ.com.

Also popular on WSJ.com:

How to keep your glasses clear when wearing a mask.

For economy, worst of coronavirus shutdowns may be over.

/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 2,890.30
+11.60 +0.40%
Volume: 0.00
July 2, 2020 4:00p
P/E Ratio
138.07
Dividend Yield
N/A
Market Cap
$1441.61 billion
Rev. per Employee
$359,671
loading...

Get news alerts on Amazon.com Inc. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.