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2021-07-15

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Self-Driving Startup Aurora in Agreement With Reinvent SPAC By Gillian Tan and Katie Roof

Driverless technology startupAurora Innovation Inc. has agreed to go public via a merger withReinven

Self-Driving Startup Aurora in Agreement With Reinvent SPAC By Gillian Tan and Katie Roof

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TechCrunch in early June reported that Aurora and the Reinvent SPAC were in talks for a deal close to $12 billion. An agreement is set to be announced as soon as Thursday, the people with knowledge of the matter said.</p>\n<p>Representatives for Aurora and Reinvent declined to comment.</p>\n<p>Aurora is led by Chief Executive Officer Chris Urmson, and Hoffman is a board member. In March, the Silicon Valley-based startup,addedVolvo Group to its list of partners to develop self-driving trucks. Paccar Inc. joined with Aurora in January for a similar development deal. Aurora has said its investors include Amazon.com, Hyundai Motor Co. and Kia Motors Corp.</p>\n<p>Aurora’s technology relies on innovations in lidar, which uses lasers to build a three-dimensional image of the surrounding landscape and help plot routes around obstacles in the road. It uses a technology that is designed to allow vehicles to “see”fartherand faster and is critical at highway speeds.</p>\n<p>Reinvent Technology Partners Y raised $978 million in a March initial public offering. Earlier Reinvent SPACs have separately agreed to merge with flying taxi startup Joby Aviation and insurance technology platform Hippo.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Self-Driving Startup Aurora in Agreement With Reinvent SPAC By Gillian Tan and Katie Roof</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSelf-Driving Startup Aurora in Agreement With Reinvent SPAC By Gillian Tan and Katie Roof\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-15 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-14/self-driving-startup-aurora-said-in-agreement-with-reinvent-spac?srnd=technology-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Driverless technology startupAurora Innovation Inc. has agreed to go public via a merger withReinvent Technology Partners Y, a blank-check firm led by executives including LinkedIn co-founder Reid ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-14/self-driving-startup-aurora-said-in-agreement-with-reinvent-spac?srnd=technology-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-07-14/self-driving-startup-aurora-said-in-agreement-with-reinvent-spac?srnd=technology-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158634871","content_text":"Driverless technology startupAurora Innovation Inc. has agreed to go public via a merger withReinvent Technology Partners Y, a blank-check firm led by executives including LinkedIn co-founder Reid Hoffman and Zynga Inc. founder Mark Pincus, people with knowledge of the matter said.\nThe transaction’s valuation couldn’t immediately be learned. TechCrunch in early June reported that Aurora and the Reinvent SPAC were in talks for a deal close to $12 billion. An agreement is set to be announced as soon as Thursday, the people with knowledge of the matter said.\nRepresentatives for Aurora and Reinvent declined to comment.\nAurora is led by Chief Executive Officer Chris Urmson, and Hoffman is a board member. In March, the Silicon Valley-based startup,addedVolvo Group to its list of partners to develop self-driving trucks. Paccar Inc. joined with Aurora in January for a similar development deal. Aurora has said its investors include Amazon.com, Hyundai Motor Co. and Kia Motors Corp.\nAurora’s technology relies on innovations in lidar, which uses lasers to build a three-dimensional image of the surrounding landscape and help plot routes around obstacles in the road. 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