Amazon spent at least $50 million to buy 3D body scanning start-up Body Labs, report says – CNBC

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Jeff Bezos, chief executive officer of Amazon.com and founder of Blue Origin LLC, speaks at the unveiling of the Blue Origin New Shepard system during the Space Symposium in Colorado Springs, Colorado, April 5, 2017.

Amazon has acquired Body Labs, a start-up that specializes in 3D body scanning and modeling, according to TechCrunch.

The report cited two sources familiar with the matter. One said Amazon spent between $50 million and $70 million in the deal and the other said it could be over $100 million. Body Labs has raised over $10 million so far and was last valued at roughly $30 million, according to Pitchbook.

Body Labs, founded in 2013, offers 3D body modeling technology, according to its website. The company helps apparel retailers make better size recommendations for customers and reduce the number of returns.

The acquisition is another sign of Amazon’s growing ambition in the fashion space. The e-commerce giant has launched nine new fashion brands in 2017 and 17 since last year. It’s also released the Echo Look, a device that gives fashion recommendations, and a new service called Amazon Wardrobe that lets Prime members try on clothes before purchasing.

Amazon’s representative wasn’t immediately available for comment.

You can read the full TechCrunch report here.

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