Self-Driving Startup Aurora Set To Go Public
Aurora plans to go public in a merger with a special purpose acquisition company (SPAC) Reinvent Technology Partners Y with a $13 billion valuation.
- The transaction is expected to close in the second half of 2021 giving Aurora a valuation of $13 billion.
- Aurora was co-founded by three industry veterans who previously worked at Google, Tesla and Uber.
- The startup continues to build momentum with a growing list of industry partners.
In trading news, autonomous driving startup Aurora plans to go public in a merger with special purpose acquisition company (SPAC) Reinvent Technology Partners Y, a company run by the co-founder of LinkedIn, Reid Hoffman, and the founder of game dev Zynga, Mark Pincus.
Aurora will join other promising startups to list on the Nasdaq in recent months, complete with a $13 billion valuation to boot.
“We believe Aurora will be the first to commercialize self-driving technology at scale for the U.S. trucking and passenger transportation markets based on its industry-leading team, technology and partnerships,” says Mark Pincus, Co-Founder and Director of Reinvent Technology Partners Y.
One of the co-founders, Sterling Anderson, actually led the team that developed Tesla’s “Autopilot” driving feature. Moreover, Anderson was instrumental in the launch of the Model X.
It’s no wonder that Aurora is going public now. The company has a growing list of industry partners that include Toyota and Volvo Group.
Furthermore, the autonomous startup is backed by the likes of e-commerce megalodon Amazon and Sequoia Capital, amongst others.
The transaction itself is expected to close at some point this year, towards the second half of 2021.
Look out for the ticker symbol “AUR” in future if you consider yourself a budding investor with eyes on anything to do with EVs.
Will you be investing in Aurora when the time comes? We’d recommend you do. Autonomous driving could very well be the future of transport, and a company like Aurora is one of the leading names in the space.