Amazon (NASDAQ: AMZN) is in “advanced” talks to buy Californian driverless car startup Zoox in a deal that would boost its automation efforts, according to reports.
The purchase price will value Zoox at below the $3.2bn valuation it hit following a funding round in 2018, according to the Wall Street Journal report.
“We believe $1.1bn would be a fair price for the company, representing a 65.6% haircut from its previous post-money valuation of $3.2bn,” said Asad Hussain, mobility analyst for Pitchbook, which tracks and values startups.
The California based company is co-founded by Stanford computer scientist Jesse Levinson and Australian artist and designer Tim Kentley-Klay in 2014, to build a fleet of on-demand robot taxis.
While the company has been working on test trials in San Francisco and Las Vegas, it plans further pilot later this year before a larger launch in 2021. Its custom built car would be able to drive in ways that humans cannot, such as having the ability to drive forwards or backwards with passengers facing each other.
Amazon has quietly been investing in self-driving and autonomous delivery vehicles. Last year, Amazon had participated in $530m funding round of self-driving car Aurora Innovation.
The Seattle-based corporation has also made steps into purchasing electric vehicles for its fleet, ordering 100,000 electric trucks from Tesla rival Rivian, which also has autonomous technology ambitions.
The tech giant already has thousands of autonomous robots that work in its warehouses, while boss Jeff Bezos has talked up its plans for an Amazon Prime Air drone fleet, which it claimed would start flights in late 2019 but as of yet has not been launched commercially.
If you are interested in investing in stocks, you can checkout our featured stock brokers here.
Trusted & Regulated Stock & CFD Brokers
What we like
- 0% Fees on Stocks
- 5000+ Stocks, ETFs and other Markets
- Accepts Paypal Deposits
Min Deposit
$200
Charge per Trade
Zero Commission on real stocks
64 traders signed up today
Visit Now67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Available Assets
- Total Number of Stocks & Shares5000+
- US Stocks
- German Stocks
- UK Stocks
- European
- ETF Stocks
- IPO
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 Zero Commission
- NASDAQ Zero Commission
- DAX Zero Commission
- Facebook Zero Commission
- Alphabet Zero Commission
- Tesla Zero Commission
- Apple Zero Commission
- Microsoft Zero Commission
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
- Paypall
- Skrill
- Neteller
What we like
- Sign up today and get $5 free
- Fractals Available
- Paypal Available
Min Deposit
$0
Charge per Trade
$1 to $9 PCM
Visit Now
Investing in financial markets carries risk, you have the potential to lose your total investment.
Available Assets
- Total Number of Shares999
- US Stocks
- German Stocks
- UK Stocks
- European Stocks
- EFTs
- IPOs
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 $1 - $9 per month
- NASDAQ $1 - $9 per month
- DAX $1 - $9 per month
- Facebook $1 - $9 per month
- Alphabet $1 - $9 per month
- Telsa $1 - $9 per month
- Apple $1 - $9 per month
- Microsoft $1 - $9 per month
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
Share
Siraj Sarwar
