According to various reports, Intel’s Mobileye gets valued at less than $16 billion in IPO. As per the reports, IPOs by many US companies have dipped low because of the financial crisis that occurred in the year 2008. Read the complete article to learn about the complete story of the news.
About the sink-in IPO
“The IPO market has been dead, and to revive it, you need a Facebook, Uber, or DraftKings moment to bring others back to the market,” said Jared Carmel, managing partner at Manhattan Venture Partners.”Most companies don’t have the grit needed to blaze a trail with all this public market volatility.”
For people who do not have much clarity about what an IPO is, it stands for initial public offering. So it is basically a method wherein a private organization offers its shares to the public. This way, it is able to make money to expand the company and the public also can earn money by buying shares of the company. It is an extremely useful way for companies to get out of trouble related to finances and keep the company on track without borrowing or being in debt from anyone. This is how an IPO works.
For people who do not have any clue about Mobileye, this article will give you an idea about the company. The company is hell-bent on making the world a better place with a smarter and driverless future. They have practical and long-term goals for the future.“Artificial intelligence is transforming how we live. At Mobileye, by applying our decades of experience and research in applied AI, we’re saving lives and making our roads more accessible. Now we will see AI expanding to other fields to benefit humanity in new ways” says Prof. Amnon Shashua, CEO and Founder of Mobileye.
About Amnon Shashua
Shashua is currently heading Mobileye as CEO of the company. He has been associated with Intell since 2017. Mobileye came into existence in the year 1999 and the sole purpose behind bringing this company to life was to vision safety technology and its benefits which includes making roads safer, reducing traffic, and thereby saving lives. Amnon Shashua is an extremely skilled and talented individual and is a recipient of many awards as well. These awards include the distinguished Dan David Prize which is a very prestigious award for anyone to receive. Along with this, he is also the author of over 120 scientific papers and also holds 80 patents.