Amazon backed electric vehicle maker Rivian files for IPO
Amazon-backed Rivian, an electric car manufacturer, saidthat it has submitted a confidentially draft registration form to authorities for an initial public offering (IPO)
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Published - Aug 27, 2021, 08:25 PM ET
Last Updated - Jun 05, 2024, 01:40 AM EDT
By Ishika Dangayach, 2:30 PM ET
Amazon-backed Rivian, an electric car manufacturer, saidthat it has submitted a confidentially draft registration form to authorities for an initial public offering (IPO).
Rivian, whose key investors include Amazon.com Inc, SorosFund Management, and BlackRock Inc, will seek a valuation of approximately $70-80billion in its IPO, sources told Reuters.
The startup is one of the most well-funded in the UnitedStates. It has raised $10.5 billion since the beginning of 2019, including $2.5billion in a round funded by Amazon and Ford Motor Company in July.
