RIVN
Electric truck startup Rivian raises more funds
- Rivian (RIVN) is close to raising funds at a $25B valuation for the
company, according to Bloomberg. That valuation is higher than the cap
for
Delta Air Lines, Tyson Foods and Equifax. Several investors are said to
be
participating in the round for several billions of dollars.
- Last summer, Rivian raised $2.5B in a funding round led by T. Rowe
Price (NASDAQ:TROW). Other participants in the round included Soros
Fund, Coatue, Fidelity Management, Baron Capital, Amazon (NASDAQ:AMZN)
and funds managed by BlackRock. Ford (NYSE:F) is also an early investor
in Rivian.
- Rivian has developed and vertically integrated a connected electric
platform that it says can be flexibly applied to a range of applications
including the company's adventure products as well as B2B products such
as
the Amazon last mile delivery vans.
- The company has 3K employees split between sites in California,
Michigan and a production facility in Normal, Illinois.
- Looking ahead, Rivian's R1T and Tesla's (NASDAQ:TSLA) Cybertruck are
expected
to make a splash in the pickup market.
|Today, 3:30 PM|32 Comments
Electric truck startup Rivian raises more funds
- Rivian (RIVN) is close to raising funds at a $25B valuation for the
company, according to Bloomberg. That valuation is higher than the cap
for
Delta Air Lines, Tyson Foods and Equifax. Several investors are said to
be
participating in the round for several billions of dollars.
- Last summer, Rivian raised $2.5B in a funding round led by T. Rowe
Price (NASDAQ:TROW). Other participants in the round included Soros
Fund, Coatue, Fidelity Management, Baron Capital, Amazon (NASDAQ:AMZN)
and funds managed by BlackRock. Ford (NYSE:F) is also an early investor
in Rivian.
- Rivian has developed and vertically integrated a connected electric
platform that it says can be flexibly applied to a range of applications
including the company's adventure products as well as B2B products such
as
the Amazon last mile delivery vans.
- The company has 3K employees split between sites in California,
Michigan and a production facility in Normal, Illinois.
- Looking ahead, Rivian's R1T and Tesla's (NASDAQ:TSLA) Cybertruck are
expected
to make a splash in the pickup market.
|Today, 3:30 PM|32 Comments
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