Shares of Samsara, which sells hardware devices and cloud-based software for helping companies manage large fleets of vehicles, closed up more than 7% in their first day of trading after the six-year-old startup raised $805 million in its IPO. Samsara’s debut, while solid, seems a bit subdued for a cloud startup that has $500 million in subscription revenue and close to 70% annualized growth....
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Data Point electric vehicles
Electric Vehicle Startups Face Cash Crunch
Startup makers of electric vehicles were one of the biggest beneficiaries of the SPAC party of 2020–21—and that fete is now well and truly in the hangover phase. At least a dozen EV startups have gone public since 2020, mostly by merging with a special purpose acquisition company, with grand ambitions to reinvent the way people and freight moved around. Now, at least...
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