Rivian was founded in 2009 by Robert "RJ" Scaringe. The company has not officially endorsed a plan to participate in an IPO.
Rivian, often touted as a competitor of Tesla, is an electric vehicle developer and manufacturer. The two products currently in development – an SUV and a pickup truck – are planned to have semi-autonomous capabilities and are designed for off-road use in addition to normal usage. The company has raised approximately $5.8 billion in Venture Capital funding from investors including BlackRock, T. Rowe Price, Soros, Fidelity, Baron Capital Group, Cox Automotive, Ford, and Amazon.com. Per company press releases, Rivian last raised $2.5 billion in July 2020 at an undisclosed post-money valuation.