Autonomous vehicle company Aurora is now a publicly traded company
Aurora, the startup that was founded by the former head of Google's self-driving car project, has officially begun trading on the Nasdaq stock exchange under the ticker symbol AUR." It's a significant milestone for the AV industry, which has struggled with overinflated expectations, missed deadlines, shuttered businesses, and a host of technological challenges.
Last summer, Aurora announced that it would go public through a reverse merger with a special acquisition company, or SPAC, called Reinvent Technology Partners Y. Upon closing this deal, Aurora said it has $1.8 billion in gross proceeds and cash in hand," which will help its quest to become a provider of self-driving hardware and software to companies in the trucking and...