According to people familiar with the matter, Amazon.Com IncRivian, an invested electric car company, plans to raise between $5 billion and $8 billion, which is expected to go public between the end of October and November, making it the largest IPO in the United States in recent years.
Rivian is understood to be seeking a valuation of about $80 billion in its IPO.
If Rivian ends up raising $8 billion, it will be the fourth largest IPO in the United States in the past decade.
According to data, only three companies have raised more than $8 billion in IPO since 2011: Baba.In 2014, Facebook Inc went public and raised 25 billion US dollars.In 2014, UBER TECHNOLOGIES INC went public and raised 16 billion US dollars.It will raise $8.1 billion in 2019.
However, Rivian has yet to provide details of its IPO plan, and the market expects the company to disclose its financial position in the coming weeks.
California-based Rivian is one of the most well-funded start-ups, raising $10.5 billion since 2019.