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Bezos-backed Rivian valued at $100bn in one of world’s biggest IPOs
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The Jeff Bezos-backed electric carmaker Rivian has raised more than $11bn in a stock market sale that valued the company at more than $100bn in one of the world’s biggest-ever stock market floats.
The share sale on Wednesday values Rivian higher than Ford or General Motors, even though before the sale the company revealed it had lost more than $2bn since the start of last year and had delivered just 53 vehicles by the end of last month. It plans to deliver 1,000 by the end of the year.
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