Joby Aviation is going public, reveals its electric aircraft in flight for the first time
Joby Aviation, the electric aviation company based in Northern California, is the latest futuristic mobility company to go public via a reverse merger with a special purpose acquisition company, or SPAC. To celebrate, the company is releasing the first footage of its electric aircraft in flight.
Joby, which is backed by Toyota and recently acquired Uber’s flying taxi division, is merging with Reinvent Technology Partners, a “blank check” company run by LinkedIn co-founder Reid Hoffman and Zynga founder Mark Pincus. The new company, which will have a post-money valuation of $6.6 billion, will be listed on the New York Stock Exchange.
As part of the deal, Joby will get $1.6 billion in cash, $690 million of which will come from Reinvent’s…