Amazon Buys Self-Driving Company Zoox For $1.2B And May Rule The World

While this does not match Amazon’s business, Amazon has been happy to branch out to many areas beyond its initial market in books, and now has leading positions in smart speakers, video streaming, ebook readers and tablets and other areas. Amazon’s huge cash resources make it one of the few companies with the capital to carry out the big bold vision of Zoox, to completely reinvent the passenger car.

The ability to deliver anything in an Amazon warehouse on short notice will be a very attractive product. The cost of robot delivery will be low enough to be bundled in with Amazon Prime. If you can get anything in one of those giant Amazon warehouses in 30 minutes, that’s scary news for the rest of retail.

While this is vastly less than the more than $3B at which Zoox was valued at is peak, it solves all of Zoox’s problems. If Jeff Bezos wants to carry through the Zoox vision, he has the resources to take that bet. It may be bad news for the early employees and founders of Zoox — in a typical venture deal, the investors who put in the early money get their money back first, and so almost all the money from this deal may to them.

Possible good news for Zoox is the ability to continue their quest for a custom vehicle design — an ambitious and expensive plan. Now the resources are available. Whether that is the right choice or not I have discussed extensively in the articles linked above and my

Great so when those break we’ll deliver them at ups. Like the usual.

Hopefully a new name is in order

i've said it before, years ago to a venture capitalist so full of himself, it even made me, a capitalist sick of his superior BS - autonomous driving will never be done PERIOD! spend as much as u want, & watch it all go up in flames - see u in 20 years

Ok ok we get it amazon is just going to take over the whole country

$AMZN 🤑🤑

karaswisher profgalloway - can’t wait for you to cover this on Pivot

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Amazon to buy self-driving technology company ZooxAmazon is jumping deeper into the market for autonomous driving with the purchase of Zoox, which was valued at over $3 billion in 2018. $1B is a rounding error to them. I was under the impression that they were much further along in their R&D for autonomous driving tech. Curious to see how much this will advance them in the space. Ya mean Jeffo . . I'm disturbed by this Not so much about self driving cars ( not comfortable) but Amazon buy another company for it's technology It is like the tycoons of the Gilded Age buy up everything
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Elon Musk calls Jeff Bezos a copy cat after Amazon acquires self-driving-car startup Zoox - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. So? In Elon we trust Elon sounds like Barnes and Noble....
Source: BusinessInsider - 🏆 729. / 51 Read more »