Hoffman, who is a partner at Greylock, and Index Ventures’ Mike Volpi became board members of Aurora as part of the Series A round.

In February 2018, Aurora raised $90 million from Greylock Partners and Index Ventures. The units are listed on the Nasdaq exchange and trade under the ticker symbol “RTPYU.”Īurora already has a relationship with Hoffman. The SPAC issued an additional 12.7 million shares to cover over allotments with total gross proceeds of $977 million, according to regulatory filings.

Their latest SPAC, known as Reinvent Technology Partners Y, priced its initial public offering of 85 million units at $10 per unit to raise $850 million. Reinvent Technology Partners Z merged with home insurance startup Hippo. Reinvent Technology Partners announced a deal in February to merge with the electric vertical take off and landing company Joby Aviation, which will be listed on the New York Stock Exchange later this year. Two of those SPACs have announced mergers with private companies. The Hoffman, Pincus, Thompson trio, who are bullish on a concept that they call “venture capital at scale,” have formed three SPACs, or blank-check companies. It is now closer to $12 billion and the deal is expected to be announced as early as next week, said multiple sources who have asked not to be identified because they’re not authorized to discuss the deal. One of the sticking points is the targeted valuation, which had been as high as $20 billion. Autonomous vehicle startup Aurora is close to finalizing a deal to merge with Reinvent Technology Partners Y, the newest special purpose acquisition company launched by LinkedIn co-founder and investor Reid Hoffman, Zynga founder Mark Pincus and managing partner Michael Thompson, according to several sources familiar with the talks.

Hoffman reid