Autonomous vehicle startup Aurora is close to finalizing a deal to merge with Reinvent Technology Partners Y, the newest SPAC launched by LinkedIn co-founder and investor Reid Hoffman, Zynga founder Mark Pincus and managing partner Michael Thompson, TechCrunch reports, citing several sources familiar with the talks.
The targeted valuation of about $12 billion was negotiated down from an initial $20 billion, according to the article. A deal could be announced as early as this week.
Led by former Google Self-Driving Car Project Chief Chris Urmson, Aurora counts Amazon among its early investors. Read more.
