Self-driving car startup Aurora is nearing a deal to merge with blank-check firm Reinvent Technology Partners Y , which is backed by Silicon Valley heavyweights Reid Hoffman, Mark Pincus and Michael Thompson, TechCrunch reported on Friday.
The targeted valuation, which had been as high as $20 billion, is now closer to $12 billion, according to the report, citing people familiar with the matter.
The deal is expected to be announced as early as next week, TechCrunch reported.
Aurora and Reinvent Technology Partners Y did not immediately respond to Reuters’ requests for comment.
Our Standards: The Thomson Reuters Trust Principles.
social experiment by Livio Acerbo #greengroundit #live https://www.reuters.com/technology/autonomous-vehicle-startup-aurora-talks-merge-with-reid-hoffmans-spac-techcrunch-2021-06-04/