Rivian Details $1 Billion Loss, Amazon Deal in IPO Filing

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(Bloomberg) -- Rivian Automotive Inc., the maker of electric pickups backed by Amazon.com Inc., disclosed a net loss of almost $1 billion in the first half of the year in its initial public offering paperwork.Most Read from BloombergThe Irvine, California-based startup in a filing Friday with the U.S. Securities and Exchange Commission listed the size of the offering as $100 million, a placeholder that will change when terms of the share sale are set.Rivian was seeking to be valued at about $80 billion in a listing, Bloomberg News reported in August when the company announced that it had filed confidentially for an IPO.The company’s IPO plans come as electric vehicle makers are scaling up, angling for a bigger slice of the growing market. With $10.5 billion raised from backers including Amazon and Ford Motor Co., an established factory in Illinois and thousands of reservation holders for its R1T truck and R1S sport utility vehicle, Rivian is among the most serious competitor
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