Rivian, better known as an electric pickup truck startup, has filed for a public offering (IPO) at an impressive $80 billion valuation. Since its ince

Electric pickup startup Rivian files for public offering at $80 billion valuation

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2021-08-29 01:00:03

Rivian, better known as an electric pickup truck startup, has filed for a public offering (IPO) at an impressive $80 billion valuation.

Since its inception a decade ago, the company has managed to raise over $10 billion, with recent major investments from Amazon and Ford.

“Rivian today announced that it has confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission (the “SEC”) relating to the proposed public offering of its common stock. The size and price range for the proposed offering have yet to be determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.”

“Rivian Automotive Inc., the maker of electric pickups backed by Amazon.com Inc., has filed for an initial public offering and is seeking a roughly $80 billion valuation, according to people familiar with the matter.”

With the SPAC frenzy in the EV space, I always didn’t like that companies would go public before even delivering any product to market.

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