Apple Buys out an Autonomous Driving Startup at Its Eleventh Hour

Drive.ai was at the cusp of closing permanently.

By
Tech
2,677 Hypes 0 Comments

Three weeks ago, Apple was reportedly in talks with Drive.ai for an acquisition of the autonomous driving startup, but for a while it seemed that the deal had fallen through, with the San Francisco Chronicle reporting that Drive.ai had filed notice with a state agency declaring that it was going to be closed permanently. However, Apple has since confirmed that the acquisition has gone through, just days before the startup was to perish.

Drive.ai is a startup focused on developing autonomous driving vehicles, and at its prime was once valued at $200 million USD. The company was started by machine learning researchers from Stanford University, and gained traction by working with an autonomous ride-hailing service in Texas. However, as more big tech firms entered the market and smaller startups became consolidated, it became apparent that Drive.ai was unable to survive on its own.

Apple’s current acquisition of the company includes its assets — including all its autonomous cars — but publications Axios and the San Francisco Chronicle both suggest that Apple have been hiring Drive.ai engineers directly, instead of through the acquisition, so the question remains: will there be a mass layoff or will Drive.ai staff find a new home at Apple? So far, Drive.ai has declined to comment, so we’ll have to wait and see as more updates come in.

Elsewhere in tech, iOS 13 and Mac OS Catalina is now in public beta.

Read Full Article
Source
The Verge

Join Our Discussions on Discord

The HYPEBEAST Discord Server is a community where conversations on cultural topics can be taken further.

1011 Users Online

What to Read Next

Hender Scheme Celebrates 1st Anniversary of Sukima Kappabashi Store With Exclusives
Fashion

Hender Scheme Celebrates 1st Anniversary of Sukima Kappabashi Store With Exclusives

Three new items.

'Spider-Man: Far From Home' Official Runtime Revealed
Entertainment

'Spider-Man: Far From Home' Official Runtime Revealed

Also confirms a popular fan theory about the Marvel Cinematic Universe.

HYT's Latest Creation Tells Time Using a Skull
Fashion

HYT's Latest Creation Tells Time Using a Skull

Reminding us that “time is precious.”


Nike Invents a High-Tech AeroAdapt Fabric for Peak Performance
Fashion

Nike Invents a High-Tech AeroAdapt Fabric for Peak Performance

Using moisture-reactive yarns.

MB&F's HM7 Aquapod Platinum Red Watch Is Inspired by Deep-Sea Jellyfish
Fashion

MB&F's HM7 Aquapod Platinum Red Watch Is Inspired by Deep-Sea Jellyfish

Limited at just 25 pieces.

'Breaking Bad's Bryan Cranston and Aaron Paul Drop Hints on Instagram for a Potential Project
Entertainment

'Breaking Bad's Bryan Cranston and Aaron Paul Drop Hints on Instagram for a Potential Project

Amid rumors of a sequel in the works.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.