Amazon-Backed Electric Truck Maker Rivian Eyes $55 Billion Valuation in Upcoming IPO

Harri Weber

Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.

Amazon-Backed Electric Truck Maker Rivian Eyes $55 Billion Valuation in Upcoming IPO

With production of its long-awaited electric pickup underway, Rivian is targeting a valuation of around $55 billion in its forthcoming initial public offering.

The Irvine-based electric truck and SUV maker is expected to raise around $8 billion in the IPO, offering 135 million shares that have been priced between $57 and $62, according to a regulatory filing published on Monday. That's on top of the more than $5 billion Rivian raised earlier this year from companies like Ford, Amazon and T. Rowe Price, a publicly traded investment manager.

The company is expected to start trading on the Nasdaq exchange next week.


The scale of Rivian's IPO reflects just how much has changed since fellow electric vehicle maker Tesla's $260 million public debut on the Nasdaq exchange in 2010. Rivian's R1T pickup rolled off its Normal, Illinois production line in September, beating established automakers to the punch as Ford and General Motors ready their own electric pickups.

While Ford invested in Rivian and stands to gain from its rise, the IPO-bound electric vehicle maker may also pose a threat to the dominance of established brands — that is, if Rivian manages to live up the hype that's propelled its high valuation.

Rivian still has much to prove. Earlier regulatory filings showed the company lost roughly $1 billion in the first half of this year, and deliveries of its debut truck are reportedly at a "trickle" as it races to supply Amazon with 10,000 delivery vans by the end of next year.

On the upside, both Rivian and its competitors stand to gain from a proposed revamp of electric vehicle tax credits in the U.S., as the climate crisis drives scrutiny of emissions-spewing combustion engines.

Ford's market cap hovered around $72 billion on Tuesday, while GM's stood near $81 billion.

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Energy Shares Wants to Offer You a Chance to Invest in Green Energy Startups

David Shultz

David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.

Energy Shares Wants to Offer You a Chance to Invest in Green Energy Startups
Photo by Red Zeppelin on Unsplash

The Inflation Reduction Act contains almost $400 billion in funding for clean energy initiatives. There’s $250 billion for energy projects. $23 billion for transportation and EVs. $46 billion for environment. $21 billion for agriculture, and so on. With so much cash flowing into the sector, the possibilities for investment and growth are gigantic.

These investment opportunities, however, have typically been inaccessible for everyday retail investors until much later in a company’s development–after an IPO, usually. Meaning that the best returns are likely to be captured by banks and other institutions who have the capital and financing to invest large sums of money earlier in the process.

That’s where Pasadena-based Energy Shares comes in. The company wants to help democratize access to these investment opportunities and simultaneously give early-stage utility-scale energy projects another revenue stream.

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How These Ukranian Entrepreneurs Relocated Their Startups to LA and Found Success

Aisha Counts
Aisha Counts is a business reporter covering the technology industry. She has written extensively about tech giants, emerging technologies, startups and venture capital. Before becoming a journalist she spent several years as a management consultant at Ernst & Young.
How These Ukranian Entrepreneurs Relocated Their Startups to LA and Found Success
Joey Mota

Fleeing war and chasing new opportunities, more than a dozen Ukrainian entrepreneurs have landed in Los Angeles, finding an unexpected community in the city of dreams. These entrepreneurs have started companies that are collectively worth more than $300 million, in industries ranging from electric vehicle charging stations to audience monetization platforms to social networks.

Dot.LA spent an evening with this group of Ukrainian citizens, learning what it was like to build startups in Ukraine, to cope with the unimaginable fear of fleeing war, and to garner the resilience to rebuild.

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