Amazon has agreed to buy self-driving technology startup Zoox in order to use it in the company's ride-hailing or delivery network.
June 29, 2020—Amazon will buy the self-driving technology startup, Zoox, in order to use it in the company's ride-hailing or delivery network, reports Reuters.
According to the report, the California-based self-driving startup in the deal reported to be worth more than $1 billion. Earlier last year, Amazon participated in another self-driving startup, Aurora Innovation Inc., in the company's $530 million funding round.
While Amazon and Zoox did not disclose the financial terms of the deal, The Information reported that Amazon had agreed to pay over $1 billion to buy Zoox, according to sources. However, the report did not detail the exact purchase price.
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