Rivian Files for IPO, Seeking $80 Billion Valuation

Rivian Public IPO

The startup company with no electric vehicle delivered yet is seeking $80 billion dollars in valuation for its IPO price. This could be a massive move if this really happens. NIO, a Chinese eclectic automaker valuation is below $80 billion dollars and they delivered more than 8,000 vehicles in a single month.

The Irvine, California-based startup said in a statement Friday that it submitted its S-1 registration to the Securities and Exchange Commission, confirming an earlier report by Bloomberg News. The company would like to do an IPO around the Nov. 25 Thanksgiving holiday, said the people, who asked not to be identified because the filing was confidential. The timing will depend on approval from the SEC.