$0 valuation coming soon.
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Zoox was doomed since the beginning. Trying to build self driving software AND an entire car with no strategic partnership.
Everything is for sale. This article states we are close to closing our round however. I understand that nobody can read the article through the paywall though.
I doubt anyone is giving you more money in this climate.
Unless you’re c level it is probably hard to understand what is really going on behind closed doors. Management may act like a sale is not on the table but the reality is no one will even give an offer to buy unless you can show potential buyers that investors are interested in another round of funding.
How long will zoox last without funding?
Why is this a bad thing for zoox employees? Doesn't being acquired mean their stocks are worth something now? Or does it mean many of them will get laid-off, especially new hires? Someone please educate me, thanks.
In all likelihood it will be a fire sale- a small fraction of their current valuation where investors who have preferred shares get paid out first and employees get pretty much nothing. It also means that they might not sell at all and are desperately looking for a buyer before they go bankrupt...
Thanks. So it's a combination of zoox's current situation (imminent running out of money) and the fact that it's for sale that makes this bad. Buyers know that zoox is running out of money and cannot find new investment so will through super low-ball offers. Sad..
How did Zoox get to this point? So disappointing. A fine line between a bunch of people with bright ideas and driven and shit.
Hubris
I see bunch of Argo people commenting on this ,How much of your actual ownership did you sell for your funding? I believe you should look into our funding strategy due to this unforseen circumstances we were blind sided .I'm open to Debate on the maturity of our technology with the competitors ,let's see which of the competitors will be awarded the 2nd best .
Argo people seem to have negative opinions on zoox. Did someone at zoox hurt their feelings??
They're definitely always out in full force, promoting but also saying that they're above hype and don't want to post any demos. Just feels sketchy and tacky. Like the Tesla fans who invade r/selfdrivingcars.
Wow so many outside experts here! Let’s revisit this thread in a few weeks to see who was right 😅
Unfortunate for everyone impacted but not surprising considering their history and (lack of) vision
They had a very impressive demo. Toyota is sitting on $50 billion in cash. Don’t be surprised if they decide to get Zoox at a hefty Covid discount.