Electric-vehicle firm Rivian could seek $70 billion valuation in IPO - Bloomberg News
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(Reuters) - Electric-truck startup Rivian Automotive Inc could target a valuation of about $70 billion in its potential public listing later this year, Bloomberg news reported on Friday.
Amazon.com Inc and Ford Motor Co-backed Rivian had a valuation of $27.6 billion, Reuters reported in January, after a $2.65-billion investment round led by T. Rowe Price.
Rivian is working with advisers including Goldman Sachs Group Inc, JPMorgan Chase & Co., and Morgan Stanley on an initial public offering, Bloomberg news reported here, citing people familiar with the matter.
JPMorgan Chase declined to respond, while the two other banks and Rivian did not immediately reply to Reuters’ requests for comment.
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