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IPFS News Link • Business/ Commerce

Everything We Know About The Upcoming Rivian IPO

• https://insideevs.com by Mark Kane

Rivian has recently filed for an initial public offering (IPO), which according to media reports, could result in valuation of up to $80 billion.

If the company would manage to find investors for 10% of the shares, it could get up to $8 billion to finance its further growth. That would come on top of the $10.5 billion in venture capital funding as of mid-2021 (including the $2.5 billion round in July).

Let's take a look at some details revealed in Rivian's S-1 filing.

Rivian was founded in 2009, which means that the company has already been around for 12 years. Initially, Rivian was working on an electric sports car, before switching to electric pickups, SUVs and commercial vehicles.

The first models are just entering the market, so there are really no revenues, while there are already quite substantial costs and net losses reported in the filing.