Rivian has received billions of dollars in investments from BlackRock and Ford. Rivian
Rivian, an electric vehicle manufacturer backed Amazon and Ford has confidentially filed for an IPO.
Bloomberg reports that the company seeks a valuation of $80billion.
Rivian has raised over $10 billion since its inception, with the most recent valuation at $27 billion, according to reports.
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Rivian, an electric vehicle manufacturer backed in part by Amazon and Ford has filed confidentially for its upcoming IPO. The company stated this in a Friday press release.
Rivian has developed a range of electric pickup trucks and plans to start delivering customers to its customers in the latter part of this year. Rivian also developed an electric delivery van to Amazon and signed a contract to deliver 100,000 vans to the e-commerce giant by the end. 10,000 vans are expected to be delivered by next year.
Bloomberg reports that the EV manufacturer is seeking a valuation of as high as $80 billion to go public. According to Bloomberg, the company aims for an IPO debut in November around Thanksgiving.
Rivian has raised over $10 billion from different investors since its inception, including T. Rowe Price and Fidelity. According to media reports, Rivian's most recent funding round valued the company around $28 billion.
Because of its unique features and refined designs, the company is considered one of the most viable alternatives to Tesla's dominance within the EV market.
Rivian's public debut is expected later in the year. This will be the culmination of a busy year for IPOs with prominent names like Robinhood and Didi completing their offerings earlier in this year.