Hyperdrive
Rivian Files for IPO, Is Said to Seek $80 Billion Valuation
- Maker of electric trucks and SUVs is backed by Amazon, Ford
- Company filed confidentially last week, aims for Thanksgiving
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Rivian Automotive Inc., the maker of electric pickups backed by Amazon.com Inc., has filed for an initial public offering and is seeking a roughly $80 billion valuation, according to people familiar with the matter.
The Irvine, California-based startup said in a statement Friday that it submitted its S-1 registration to the Securities and Exchange Commission, confirming an earlier report by Bloomberg News. The company would like to do an IPO around the Nov. 25 Thanksgiving holiday, said the people, who asked not to be identified because the filing was confidential. The timing will depend on approval from the SEC.