Today, my colleague Kirsten Korosec reported that the autonomous vehicle startup Aurora is close to finalizing a deal to merge with one of three blank-check companies that have been formed to date by renowned entrepreneurs Reid Hoffman and Mark Pincus and a third partner in these deals, Michael Thompson, who long managed special situation funds.
This one is intriguing for a lot of reasons, including because Aurora’s founders are big wheels in their industry (no pun intended) and their moves are widely watched, and having already acquired the self-driving unit of Uber in a complicated arrangement, Aurora could, as a publicly traded entity, snap up even more rivals, given it would have a more liquid currency than it does right now.
Possible merits of the deal aside, it’s worth zooming in on Hoffman here. His venture firm, Greylock, is an investor in Aurora and has been since co-leading its Series A round in 2018, at which point Hoffman joined the board as a director. Now Hoffman’s SPAC is looking to take Aurora public at what we can safely assume is a much, much higher valuation than where it was valued back then. In fact, Kirsten reports that one of the …read more
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