Source: British Financial Information Investing
Rivian, the electric car company backed by Amazon.Com Inc, is planning to raise between $5 billion and $8 billion, expected to go public between the end of October and November, making it the largest IPO in the US in recent years, according to people familiar with the matter.
Rivian is understood to be seeking a valuation of about $80 billion in its IPO.
If Rivian ends up raising $8 billion, it will be the fourth largest IPO in the United States in the past decade. According to data, only three companies have raised more than $8 billion in IPO since 2011: BABA raised $25 billion in 2014, Facebook Inc raised $16 billion in 2014 and UBER TECHNOLOGIES INC raised $8.1 billion in 2019.
However, Rivian has yet to provide details of its IPO plan, and the market expects the company to disclose its financial position in the coming weeks.
California-based Rivian is one of the most well-funded start-ups, raising $10.5 billion since 2019.
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