Amazon in talks to buy startup Zoox
However, there's no guarantee the two parties will reach an agreement, and both companies declined to comment on the report
Stocks impacted: Amazon.com Inc. (AMZN)
The logistics giant is in advanced talks to acquire a stealthy developer of robotaxi technology Zoox. The purchase terms would value the startup below its estimated market value of $3.2 billion achieved in a funding round in 2018. Earlier, there were speculations that Zoox was having trouble sourcing further funding and was looking for a buyer. Last month, the firm was forced to lay off staff last month in response to the COVID-19 pandemic. By the way, a potential deal may be weeks away and there's no guarantee the two parties will reach an agreement, and both companies declined to comment on the report. As a reminder, last year, Amazon invested into autonomous-technology firm Aurora Innovation’s $US530 million funding round, valuing it at more than $US2 billion. The logistics giant’s stocks were trading 0.6% lower on Tuesday as market sentiment has deteriorated in general.
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