Electric air taxi startup Joby to add LinkedIn co-founder, Google exec to board

FILE PHOTO: Reid Hoffman, co-founder of Linkedin and venture capitalist, arrives at the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, U.S., July 9, 2019. REUTERS/Brendan McDermid

(Reuters) - Electric air taxi startup Joby Aero Inc will add Silicon Valley heavyweight Reid Hoffman and executives from Google and Toyota to its board, as the company prepares to go public through a merger with a blank-check firm.

Reinvent Technology Partners, a special purpose acquisition company (SPAC) headed by LinkedIn co-founder Hoffman, Zynga founder Mark Pincus and longtime investor Michael Thompson, is taking the 12-year-old company public in a $6.6 billion reverse merger.

Apart from Hoffman, the other members to be added to the board include Google General Counsel Halimah DeLaine Prado, Toyota Motor Corp board member and operating officer James Kuffner, and former Southwest Airlines CFO Laura Wright. (https://bwnews.pr/3y2TEoi)

The deal is expected to close in the second quarter, following which the combined company will be called Joby Aviation Inc and will trade on the New York Stock Exchange.

Joby's electric aircraft is expected to operate as part of an air taxi service beginning in 2024.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Anil D'Silva)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights


Next In Tech News

Facebook oversight board seeks clarity on review system for high-profile users
Facebook to launch portable version of Portal video chat device
Former F1 driver Rosberg, Agnelli's Exor invest in adopt-a-tree site Treedom
EU plans to legislate for common phone charger despite Apple grumbles
AT&T plans multi-year effort to burnish its brand image
Facebook spent over $13 billion on safety, security since 2016
Biden sanctions cryptocurrency exchange over ransomware attacks
Banks say draft capital rules make cryptoassets too costly to trade
Google to buy more office space in NYC as big tech swoops down on real estate
Brazil's Gol hails deal to bring flying taxis to Sao Paulo

Stories You'll Enjoy