LinkedIn co-founder Reid Hoffman and Zynga co-founder Mark Pincus’s SPAC Reinvent Technology Partners is nearing a deal to merge with flying taxi developer Joby Aviation, the Financial Times reports.
A deal would value the company $5.7 billion, the news outlet said, citing people familiar with the discussions.
Reinvent Technology is finalizing financing for the transaction and an agreement may be announced this month, though it could still fall apart if additional financing isn’t secured. Reinvent raised $690 million in an IPO last year. Read more.
