Sunday, November 28, 2021

    Latest Posts

    7 takeaways from Rivian’s IPO filing – TechCrunch

    Rivian,Electricity Amazon, Ford, T.Backed by a treasure trove of blockbuster institutional investors like Lowprice Associates and Court, automakers have finally filed a former confidential IPO application. public..

    Starting as Mainstream Motors in 2009 and adopting the Rivian name two years later, the company has grown explosively in terms of people, backers and partners over the past few years. Rivian had been operating in secret for years before unveiling prototypes of all-electric R1T trucks and R1S SUVs at the LA Auto Show in late 2018. Since then, Rivian has raised approximately $ 11 billion, of which $ 10.5 billion has been raised since 2019. Expanded Normal factory in Illinois. We hired thousands of employees. Landed Amazon as a commercial customer. And recently Confidentially submitted for IPO..

    Currently, the S-1 reveals details about the company and its operations. According to the IPO submission, Rivian is officially based in Southern California, but the details, believe it or not, weren’t very clear a few months ago. The company’s headquarters was formerly listed as Plymouth, Michigan.

    As of June 30, 2021, Rivian had 6,274 employees across the United States, Canada and Europe, according to Filing. The company recently said it employs more than 8,000 people on TechCrunch. This shows that the company’s growth is accelerating. Rivian has facilities in Palo Alto and Irvine, California, Vancouver, Canada, the Netherlands and the United Kingdom, in addition to its Illinois factory and Plymouth offices.

    According to media reports, the company could pursue a $ 80 billion valuation at the time of its debut.

    To be sure, pre-IPO pricing numbers are often found in companies that get a lot of media attention, so today there are many supporters who expect them to become a reality. The TechCrunch crew performed their first dive through the company’s IPO filing, looking for complexity, gems, and possible headaches. Digested the news itself..

    So how much does it cost to set up an EV company, why market size estimates are random, what kind of voting structure Rivian is aiming for after its debut, and how Amazon is blessed for the company. Let’s talk about why you are particular about it. Service is important and where Tesla grows.

    How nice? Enjoy it.

    Despite what SPAC tells us, setting up an actual EV company is expensive

    People love to build startups, saying it’s cheaper and easier to find than ever before. They are talking about a pure software company. Setting up an EV company is still incredibly difficult and expensive.

    Evidence of that fact can first be found in the enormous amount of capital that Rivian raised during his private life to reach the point where Rivian began manufacturing vehicles. However, the company’s income statement shared with S-1 Filing explains this in more detail.

    The company’s performance in the first two quarters of 2019, 2020, and both this year and the end is as follows:

    No, no doubt, you haven’t missed the earnings line in the figure above. It hasn’t existed since then. This is because Rivian has essentially zero past revenue to report. Of course, that makes sense because Rivian has just begun to offer its customers the first R1T truck (revenue is yeah!). You can spy on income dribbling in the interest section, but that’s virtually it. So far, Rivian hasn’t made money simply by having a lot of cash, some of which have made little profit.

    7 takeaways from Rivian’s IPO filing – TechCrunch Source link 7 takeaways from Rivian’s IPO filing – TechCrunch

    The post 7 takeaways from Rivian’s IPO filing – TechCrunch appeared first on California News Times.

    Source link

    Latest Posts

    Don't Miss

    Stay in touch

    To be updated with all the latest news, offers and special announcements.