Rivian files to go public at up to a reported $80 billion valuation
Sean O'KaneThe Verge
Buzzy (and extremely well-funded) EV startup Rivian has filed paperwork with the Securities and Exchange Commission to go public. Rivian will be doing a traditional initial public offering, bucking the recent trend of electric vehicles going public by merging with a special purpose acquisition company, or SPAC.
The company, which is backed by Amazon and Ford, announced that it submitted a draft registration statement for the IPO in a press release. The draft will initially remain confidential, though Bloomberg has reported that Rivian is seeking a valuation as high as $80 billion. The IPO date is expected to be sometime before the end of this year. When it happens, Rivian will add to a fundraising war chest that is already over $10...Continue Reading