Saturday, September 04, 2021

EV: Rivian: 0 => $80B ?

Rivian seeks $80B valuation in confidential IPO filing

"Rivian has filed for its Initial Public Offering (IPO) with the SEC confidentially and is seeking an initial valuation of $80 billion, according to reports.

Rivian, an electric car company headed by founder and CEO RJ Scaringe, is set to deliver its first vehicles in September. Ahead of the first deliveries of the R1T, Rivian has confidentially filed for its IPO, according to Bloomberg. Sources also stated that Rivian would seek an $80 billion valuation, which would make it the sixth-most valuable car company in the world, displacing General Motors with a valuation of $72.22 billion. Daimler is fifth with an $89.76 billion valuation."

"Rivian is backed by several high-profile companies, including e-commerce giant Amazon, legacy automaker Ford, and Cox Automotive. The company has raised $10.5 billion from its investors since welcoming private investments for the first time in 2019. Rivian has had multiple billion-dollar funding rounds, with the first taking place in 2020. The company recently rounded up another funding round that was capped with $2.5 billion in private investments.

Rivian will be the first company to bring an all-electric pickup truck to the market when it begins deliveries next month."

SpaceX += IoT (Swarm Technologies)

SpaceX Acquires Swarm Technologies, A Small Satellite Mobile Broadband

"Swarm Technologies, Inc. is a private company working to build an Internet of Things (IoT) constellation of very small satellites (CubeSats) in low Earth orbit to provide mobile broadband data anywhere globally. On July 16, SpaceX acquired Swarm Technologies, it is now a direct wholly-owned subsidiary of SpaceX, according to a Federal Communications Commission (FCC) filing."

SpaceX Acquires Swarm Technologies, A Small Satellite Mobile Broadband Constellation