Posted on 10/04/2021 11:09:35 AM PDT by SunkenCiv
Rivian, the electric automaker backed by Amazon, Ford and a cornucopia of heavy-hitting institutional investors like T. Rowe Price Associates and Coatue, finally made its once-confidential IPO filing public.
The company, which started in 2009 as Mainstream Motors before adopting the Rivian name two years later, has exploded in terms of people, backers and partners in the past few years. Rivian operated in secret for years before it revealed prototypes of its all-electric R1T truck and R1S SUV at the LA Auto Show in late 2018. Since then, Rivian has raised about $11 billion ($10.5 billion of which was raised since 2019); expanded its Normal, Illinois, factory; hired thousands of employees; landed Amazon as a commercial customer; and, most recently, filed confidentially for an IPO.
Now, its S-1 is revealing more details about the company and its operations. According to its IPO filing, Rivian is officially based in Southern California, a detail that, believe or not, wasn't so clear a few months ago. The company's headquarters previously were listed as Plymouth, Michigan...
Media reports indicate that the company could pursue a valuation as high as $80 billion in its debut.
(Excerpt) Read more at techcrunch.com ...
—”Car and Driver notes that Rivian’s got deposits for 48390 trucks, “
And Amazon has 100,000 Rivian delivery vans on order and Ford has an agreement to build on the Rivian chassis.
I wish I could get a piece of the IPO, but it'll probably be worth taking a bite anyway..
Okay, speaking of Ford, 40 mpg pickup:
https://www.youtube.com/results?search_query=ford+maverick+pickup
This is a topic over a month old if memory serves.
This post-IPO trading should be a nice show.
Like the SpaceX vs Blue Origin fight, this Tesla vs Rivian is really between Elon Musk and Jeff Bezos.
https://www.google.com/search?q=RIVN
Rivian prices IPO at $78 a share, valuing electric vehicle company at $66.5 billion
PUBLISHED TUE, NOV 9 20218:23 PM ESTUPDATED 3 HOURS AGO
Ari Levy
@LEVYNEWS
https://www.cnbc.com/2021/11/09/rivian-prices-ipo-at-78-a-share-valuing-company-at-66point5-billion.html
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