After being incubated by Intel for a while... Mobileye is finally going back to the public.
👉 Background: Mobileye was founded way back in 1999 in Israel when they started to build the tech for self-driving cars. Now, its technology is sold to companies like BMW, Nissan and Volkswagen for their own self-driving car units.
👉 What happened: Mobileye originally went public in 2014, but was acquired by Intel for over $15 billion USD. Now, Intel has incubated its baby and is ready to release it back into the wild (aka the NASDAQ).
👉 What else: Initial rumours were that Mobileye could be worth up to $50 billion USD but now it's expected to list with a $30 billion USD valuation - because the hype for driverless cars just ain't as strong anymore.
💡In the early 2010's, it was believed the self-driving car technology could revolutionise our lives overnight, but since then, the industry has received a good ol fashioned reality check.
💡In 2016, when Love Yourself by J-Biebs was #1, Elon Musk predicted that driverless cars would be live and driving in just 2 years. 4 years later, and we're still waiting.
💡And while we’ve still got Cruise, Argo Zoox, Tesla and more battling for self-driving glory, it’s fair to say that expectations around driverless car have changed.
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