• Nigerian/African Tech
  • Start Up
  • Internet
    • App
    • Mobile
    • Software
  • Gadgets
  • Money
  • Video
Tech News, Magazine & Review WordPress Theme 2017
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Transport

Electric Vehicle Company Rivian Raises IPO Price Range, May Be Valued At $65b

Femi by Femi
November 9, 2021
Share on FacebookShare on Twitter

An updated securities filing by electric Vehicle company Rivian shows that the company has increased the initial public offering price of its shares. The price update was made on Friday and showed a slight price change in the price the company plans to offer its shares for. According to the updated filing, the company has plans to offer 135 million shares within the price range of $72 and $74. The original pricing the company first announced was between $57 and $62. Rivian could be worth more than $65 billion with the current range and under the assumption that underwriters exercise an option of 20.25 million additional shares.

Also On TechBooky

EU Passes Law To Make EV Chargers Available On Major Roads

Tesla’s Revenue Soars Amid Rampant EV Price Slashes

How Technology Is Changing The Way We Travel?

The Importance of a Reliable In-Flight Wi-Fi Connection

Space Travel In 2021: Bezos, Branson, And The Future of Space Tourism

According to earlier reports, the electric vehicle company which has the backing of e-commerce giant Amazon and automaker Ford plans to go public by next week. The company is reportedly going to list on the Nasdaq under the ticker symbol “RIVN”. The IPO prospectus Rivian filed last month also confirmed that the company is going to list under the ticker “RIVN”.

Rivian has been working hand-in-hand with Amazon and is developing commercial delivery vans for Amazon. The company recently started the production of its highly anticipated electric pickup – the R1T. The company announced last week that it plans on delivering 1,000 pieces of this model by the year-end. On Thursday this week, however, a former executive at the company raised concerns about the company’s ability to keep the promises made to investors. Her comments came in the heat of a gender discrimination lawsuit she filed against the company and claims that female executives were either being marginalized or shut out from important meetings.

At a prospective valuation of $65 billion, the electric vehicle company is slightly behind automakers like Ford which owns about a 5 percent stake in Rivian and GM in value. According to filings by Rivian, the company has never reported any material revenue and expects to generate at most $1 million in revenue in the quarter ended September 30th, and it also lost $994 million in the first half of the year. The valuation will also bring the company to the forefront of electric vehicle startups and recently public U.S. companies such as Lordstown Motors, Fisker, etc. The valuation would place the company on par with Chinese EV maker Nio.

Related Posts:

  • 2018-10-24t130218z2010833019rc128689aea0rtrmadp3volvo-electric-chargingjpg-1030717-1631717965-1037276-1633356496
    Volvo Announces IPO In A Bid To Accelerate Shift To…
  • TESLA-1280×720-1-990×557
    Tesla’s Revenue Soars Amid Rampant EV Price Slashes
  • jassy
    Andy Jassy To Become Amazon CEO On Monday, Gets 61k…
  • 211213074745-04-elon-musk-0813-restricted-super-tease
    Filings Show That Elon Musk Has Acquired A 9.2%…
  • electric land rover
    Land Rover To Roll Out An All-Electric Range Rover In 2024
  • zuck
    24-Hour Record Plunge: Zuckerberg In $29 Billion…
  • MTN-logo
    MTN Nigeria Is Selling 575 Million Shares At ₦169…
  • _118712216_gettyimages-910879198
    Tesla’s Market Share Spiral To $1 Trillion As Car…
Tags: electric vehicleEViporivianstartuptransport
Femi

Femi

Paul Balo is a wireless communications technologist with interests in VoIP and 5G technologies. He leads the writing team at TechBooky

BROWSE BY CATEGORIES

Freshly Squeezed

  • Altman’s Return Is A Teachable Moment in AI Governance November 27, 2023
  • 7 Hyped Innovations That Fell Short of Mainstream Adoption November 27, 2023
  • Sam Altman Is Back To OpenAI As CEO Less Than A Week After His Firing November 22, 2023
  • Breaking: Sam Altman Is Leaving OpenAI In Just A Week After Its DevDay November 17, 2023
  • No Mr Musk, You Can’t Do It All And Don’t Blame It On Wokeness November 10, 2023
  • The Airbnb Effect? A Closer Look at Housing Crises in the UK and Canada November 10, 2023

RSS More from TechBooky Africa

  • Sony’s $10 Million Fund is Transforming Africa’s Creativity & the Theatric Industry at Large.  October 18, 2023 Eni Emeka
  • The Impact of Yellow Card’s Grant on Nigerian Women and the Blockchain Industry. October 17, 2023 Eni Emeka
  • The Nigerian Start-ups That Evolved With The AI Technology Emergence October 14, 2023 Eni Emeka
  • The Impact of Starlink’s Price Drop in Nigeria. October 11, 2023 Eni Emeka
  • CoverAI’s Acquisition by Writesea, a New York-Based Firm. October 11, 2023 Eni Emeka
  • The Rise and Fall of Ghanaian FinTech Dash October 9, 2023 Eni Emeka
  • Starlink Set Up Shop in Zambia. October 7, 2023 Eni Emeka
  • The FTX-Backed Bridge Network In-House Commotion By Cofounders Tussle For Power.  October 6, 2023 Eni Emeka
  • Seven Unique Takes on Ranking the Android Foldable Phones of 2023. October 2, 2023 Eni Emeka
  • PayDay Potential Sale Stirs Reactions Based On The Recently Acquired $3M Investment Equity.  September 22, 2023 Eni Emeka

Receive top tech news directly in your inbox

Loading

RSS More from TechBooky Business

  • Palantir Beats Earnings Expectations and Raises Guidance November 5, 2023 Femi Balo
  • Block’s Remarkable Q3 Earnings Report Sparks Investor Frenzy November 3, 2023 Femi Balo
  • Apple Q4 Earnings Report: Surprises and Shifts November 3, 2023 Femi Balo
  • AMD Reports Q3 Earnings Exceeding Expectations and Highlights a Positive 2024 Outlook November 1, 2023 Femi Balo
  • Samsung Reports Strong Q3 Earnings Amid Signs of Chip Market Stabilization October 31, 2023 Femi Balo
  • Pinterest’s Impressive Third-Quarter Earnings Report and Outlook October 31, 2023 Femi Balo
  • ON Semiconductor Faces Market Challenges Despite Strong Q3 Earnings October 31, 2023 techbookybusiness
  • Huawei Records Stable Q3 Revenue Despite Challenges October 27, 2023 Femi Balo
  • Intel’s Strong Q3 Earnings Propel Stock Up in After-Hours Trading October 27, 2023 Femi Balo
  • Amazon Surpasses Expectations In Q3 Earnings Report October 27, 2023 Femi Balo

Browse Archives

December 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Nov    

About Us

TechBooky

TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

Subscribe to TechBooky

Enter your email address to subscribe to TechBooky and receive notifications of new posts by email.

Join 17,656 other subscribers.

Receive top tech news directly in your inbox

Loading

Popular Tags

AI (317) amazon (97) android (305) app (664) Apple (504) artificial intelligence (341) business (419) china (117) cloud (141) cryptocurrency (164) ecommerce (112) enterprise (259) facebook (482) gadget (508) gaming (183) google (580) government (403) guest post (109) instagram (147) internet (389) ios (262) iphone (221) microsoft (285) mobile (321) new feature (329) nigeria (283) privacy (146) research (135) samsung (154) security (387) smartphone (257) social media (721) software (460) startup (272) streaming (149) telecom (159) tips (352) transport (109) twitter (256) united states (205) users (158) videos (116) website (166) whatsapp (136) youtube (110)

Quick Links

  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

RSS African Tech News

  • Sony’s $10 Million Fund is Transforming Africa’s Creativity & the Theatric Industry at Large.  October 18, 2023 Eni Emeka
  • The Impact of Yellow Card’s Grant on Nigerian Women and the Blockchain Industry. October 17, 2023 Eni Emeka
  • The Nigerian Start-ups That Evolved With The AI Technology Emergence October 14, 2023 Eni Emeka
  • The Impact of Starlink’s Price Drop in Nigeria. October 11, 2023 Eni Emeka
  • CoverAI’s Acquisition by Writesea, a New York-Based Firm. October 11, 2023 Eni Emeka
  • The Rise and Fall of Ghanaian FinTech Dash October 9, 2023 Eni Emeka
  • Starlink Set Up Shop in Zambia. October 7, 2023 Eni Emeka
  • The FTX-Backed Bridge Network In-House Commotion By Cofounders Tussle For Power.  October 6, 2023 Eni Emeka
  • Seven Unique Takes on Ranking the Android Foldable Phones of 2023. October 2, 2023 Eni Emeka
  • PayDay Potential Sale Stirs Reactions Based On The Recently Acquired $3M Investment Equity.  September 22, 2023 Eni Emeka

RSS Business Tech News

  • Palantir Beats Earnings Expectations and Raises Guidance November 5, 2023 Femi Balo
  • Block’s Remarkable Q3 Earnings Report Sparks Investor Frenzy November 3, 2023 Femi Balo
  • Apple Q4 Earnings Report: Surprises and Shifts November 3, 2023 Femi Balo
  • AMD Reports Q3 Earnings Exceeding Expectations and Highlights a Positive 2024 Outlook November 1, 2023 Femi Balo
  • Samsung Reports Strong Q3 Earnings Amid Signs of Chip Market Stabilization October 31, 2023 Femi Balo
  • Pinterest’s Impressive Third-Quarter Earnings Report and Outlook October 31, 2023 Femi Balo
  • ON Semiconductor Faces Market Challenges Despite Strong Q3 Earnings October 31, 2023 techbookybusiness
  • Huawei Records Stable Q3 Revenue Despite Challenges October 27, 2023 Femi Balo
  • Intel’s Strong Q3 Earnings Propel Stock Up in After-Hours Trading October 27, 2023 Femi Balo
  • Amazon Surpasses Expectations In Q3 Earnings Report October 27, 2023 Femi Balo

Recent News

Altman’s Return Is A Teachable Moment in AI Governance

Altman’s Return Is A Teachable Moment in AI Governance

November 27, 2023
7 Hyped Innovations That Fell Short of Mainstream Adoption

7 Hyped Innovations That Fell Short of Mainstream Adoption

November 27, 2023
Sam Altman Is Back To OpenAI As CEO Less Than A Week After His Firing

Sam Altman Is Back To OpenAI As CEO Less Than A Week After His Firing

November 22, 2023
Breaking: Sam Altman Is Leaving OpenAI In Just A Week After Its DevDay

Breaking: Sam Altman Is Leaving OpenAI In Just A Week After Its DevDay

November 17, 2023
No Mr Musk, You Can’t Do It All And Don’t Blame It On Wokeness

No Mr Musk, You Can’t Do It All And Don’t Blame It On Wokeness

November 10, 2023
The Airbnb Effect? A Closer Look at Housing Crises in the UK and Canada

The Airbnb Effect? A Closer Look at Housing Crises in the UK and Canada

November 10, 2023
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact us
  • Privacy Policy
  • Disclaimer
  • Login

© 2021 Design By Tech Booky Elite

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

© 2021 Design By Tech Booky Elite