Amazon Buys Autonomous Driving Startup Zoox For A Reported $1B

Amazon.com AMZN has agreed to acquire self-driving startup Zoox Inc for the reported amount of $1 billion.

The company has not confirmed the amount of the transaction reported by The Information. The deal is subject to customary closing conditions.

Zoox is headquartered in Foster City, California and has over 1,000 employees. The company was started in 2014 with the vision of purpose-built, zero-emissions vehicles designed for autonomous ride-hailing, along with an end-to-end autonomy software stack.

Once the acquisition is complete, the Zoox CEO and CTO will continue to lead the team.

"This acquisition solidifies Zoox's impact on the autonomous driving industry," Zoox CEO Aicha Evans said in a statement.

Co-founder and CTO Jesse Levinson said that since Zoox's inception six years ago, it has been "singularly focused on our ground-up approach to autonomous mobility."

Amazon's backing will speed up the company's path to safe, clean and enjoyable transportation globally, Levinson said. 

Amazon shares were trading slightly positive at $2,754.62 at the time of publication.

The stock has a 52-week high of $2,796 and a 52-week low of $1,626.03.

Related Links:

Blue Origin, SpaceX Land NASA Deal

How The COVID-19 Pandemic Makes Amazon, Netflix Key Businesses

Courtesy photo. 

Posted In: autonomousride-hailingself-drivingThe InformationZooxM&ANewsTechMedia

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.