Bloomberg Technology

Rivian Ready to Go Public Valued at $53 Billion

Rivian Automotive Inc., the electric truck maker backed by Amazon.com Inc., plans to raise as much as $8.4 billion in an initial public offering that could give it a value of as much as $53 billion. Ed Ludlow reports on “Bloomberg The Open.” ——– Like this video? Subscribe to Bloomberg Technology on YouTube: Watch the latest full…

Published

3 years ago

November 5, 2021

CYBER TECH TV

Rivian Automotive Inc., the electric truck maker backed by Amazon.com Inc., plans to raise as much as $8.4 billion in an initial public offering that could give it a value of as much as $53 billion. Ed Ludlow reports on “Bloomberg The Open.”
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This is unreal at Kathleen Hays a company that only started
delivering in August. I believe the number and you can give me

the number is still very very low and it is said to have a
market cap of 60 billion. Seriously.

Yeah. This is a company that’s literally built a couple of
hundred units of its debut Eevee. They’re seeking a market cap

of around 53 billion dollars. If you take into consideration the
IRS using options around 60 billion. We reported in August when

they filed for IPO that they were targeting a valuation 80
billion dollars 8 0. So there’s been some natural settling of

that valuation. But there’s demand that you have names like you
know Blackstone. You have names like Franklin Templeton

committed to buy five billion dollar blocks of the IPO shares at
that valuation. You can see where revision sets vs. the world of

existing publicly traded automakers. Right. This is astonishing.
But they’ve built a big reputation. They raised ten point five

billion dollars before filings go public from big names you know
from from some of the biggest names on Wall Street essentially.

And they’ve got the backing of Amazon and Jeff Bezos which is
worth its weight in gold. You see that each round it’s raised

the new and higher valuation a sign that’s the share price for
each of the private rounds. And you know yes right now they are

doing modest production. We reported that actually they’re
suffering from supply chain and prioritizing a battery electric

delivery delivery van from Amazon. But as I’ve reported John
this is a very prudent company. They’ve taken their time.

They’ve hired a lot of key talent from Tesla from JP Morgan for
their CFO. And by all accounts what I’m hearing is they’re

ready.

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9 Comments

Edgar Cardenas

November 5, 2021 at 7:18 pm

$#$ Forbes owner blue pen 🖊️ boss Tony stark

Reply
lewisgv

November 6, 2021 at 12:09 am

Tesla no.1

Reply
- Kevin Pasala
  
  November 6, 2021 at 3:33 am
  
  For sure. But if this company is only 40 percent of Tesla that’s 400 dollars a share eventually. If it’s worth 65 that’s a 400 percent return.
  
  Reply
- Conner G
  
  November 6, 2021 at 4:52 am
  
  Yea yea we get it
  
  Reply
- Thad L M
  
  November 6, 2021 at 11:10 pm
  
  @Conner G Tesla is the next Tesla….
  
  Reply
Prabakaran Perumal

November 6, 2021 at 4:01 am

I am still unable to understand valuation like 50 billion or 60 billion for zero revenues.

Reply
Mark Plott

November 6, 2021 at 6:56 am

Short sellers are going to TANK the Rivian IPO to $0/share.

Reply
Arise Training Program

November 6, 2021 at 10:12 am

Boooooooo ridiculous eval. You’re not special, you need to validate you can manufacture at scale and be profitable

Reply
Cybrtrk

November 6, 2021 at 1:09 pm

Not a single vehicle delivered to a customer… what a mockery of human emotion to invest in EV transition.

Reply

Bloomberg Technology

Tech Leaders Approach Trump, Intel Seeks Altera Buyers | Bloomberg Technology

Published

2 days ago

December 20, 2024

CYBER TECH TV

Bloomberg’s Caroline Hyde breaks down how President-elect Donald Trump and Elon Musk wield their political power as the government works to avoid shutting down. Plus, the Big Tech leader merry-go-round at Mar-a-Lago continues with Jeff Bezos the latest to try and influence Trump’s policies and decisions. And, private equity firms are competing for Intel’s programmable chip arm Altera.
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“Bloomberg Technology” is our daily news program focused exclusively on technology, innovation and the future of business hosted by Ed Ludlow from San Francisco and Caroline Hyde in New York.

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Bloomberg Technology

The Rise of Agentic AI

Creatio CEO and Founder Katherine Kostereva joins Caroline Hyde to discuss the rise of AI agents taking front-line interactions from customer service to sales, and to give her outlook for the space in 2025. She speaks on “Bloomberg Technology.” ——– Like this video? Subscribe to Bloomberg Technology on YouTube: Watch the latest full episodes…

Published

2 days ago

December 20, 2024

CYBER TECH TV

Creatio CEO and Founder Katherine Kostereva joins Caroline Hyde to discuss the rise of AI agents taking front-line interactions from customer service to sales, and to give her outlook for the space in 2025. She speaks on “Bloomberg Technology.”
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Bloomberg Technology

Bitcoin Slumps: Trump Euphoria Gives Way to Fed Wariness

Bitwise Asset Management CIO Matt Hougan tells Caroline Hyde why he believes the latest weakness in crypto and Bitcoin over the last few days is a “healthy pullback” which does not take away from the asset class’s overall great run this year. He speaks on “Bloomberg Technology.” ——– Like this video? Subscribe to Bloomberg Technology on…

Published

2 days ago

December 20, 2024

CYBER TECH TV

Bitwise Asset Management CIO Matt Hougan tells Caroline Hyde why he believes the latest weakness in crypto and Bitcoin over the last few days is a “healthy pullback” which does not take away from the asset class’s overall great run this year. He speaks on “Bloomberg Technology.”
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