Bloomberg NewsCiting sources, Aurora Innovation, a Pittsburgh-based self-driving car startup, is considering a sale, with potential targets including Microsoft and Apple.
An Aurora Innovation spokesperson later confirmed the statement, but stressed that this was a long-term plan based on careful evaluation.
According to information obtained by Bloomberg News, Aurora Innovation co-founder and CEO Chris Urmson sent a memo to internal employees outlining potential sales plans and related operating cost reduction preparations, including taking the company back to private ownership, splitting it up or selling all of its assets to obtain additional funds and seize operational development opportunities.
Early last year, Aurora Innovation announced a partnership with Toyota and Denso to build self-driving taxis. However, after listing on the Nasdaq Stock Exchange in New York last fall through special purpose acquisition company (SPAC) Reinvent Technology Partners Y, the stock price quickly surged to a high of $17.77 per share. However, it plummeted to just $1.83 per share this summer before recovering to $2.43 earlier this year, valuing the company at approximately $28 billion. This represents a significant decrease from its pre-IPO valuation of $110 billion.
Although Chris Urmson mentioned in the memo that potential buyers include Microsoft, Apple and other companies that may be interested, neither Microsoft nor Apple has made any statement on this.
