"Luminar is firing on all cylinders and successfully proving our ability to execute, industrialise and capitalise on our business. Luminar expects at least 100 per cent revenue growth in 2023.
It had reportedly posted revenue of $14.5 million, up 112 per cent year-over-year. In Q1 2023, Luminar said it exceeded its revenue guidance and maintains a strong balance sheet for accelerating business growth and reaching positive cash flow.
Luminar technologies ipo software#
Luminar Technologies currently has a nearly $2.1 billion market cap.įor the past decade, Luminar has built an advanced hardware and software platform to enable its more than 50 industry partners, including the majority of global automotive OEMs.įrom Volvo Cars and Mercedes-Benz for consumer vehicles and Daimler Trucks for commercial trucks, to tech partners NVIDIA and Intel's Mobileye, Luminar is poised to be the first automotive technology company to enable next-generation safety and autonomous capabilities for production vehicles.
Russell's Luminar competes with laser lidar makers like Velodyne and Aeva, which make high-tech sensors to help self-driving vehicles "see" their surroundings. An optics prodigy, Russell developed the idea for Luminar when he was just 17 and studying physics at Stanford University.Īustin had dropped out of college in 2012 after receiving a $100,000 Thiel Fellowship, a program funded by billionaire Peter Thiel to nurture entrepreneurs. Early Years Of Billionaire Austin RussellĬollege dropout Austin Russell founded and runs automotive sensor firm Luminar Technologies, which went public in a SPAC merger in Dec. Russell will not be involved in day-to-day operations at Forbes, founded in 1917 by BC Forbes, and the publication plans to appoint a new board with US media, technology and artificial intelligence (AI) experts. Integrated Whale will keep one board seat. It is only fitting that now through this transaction, a true innovator and visionary, Austin Russell, will be the new steward for the brand.”įorbes plans to appoint a new board consisting of American media, technology and artificial intelligence experts. "Over 105 years, innovation has been part of Forbes’ DNA and has kept us at the forefront of our industry. “This is an important milestone in Forbes’ history and an achievement that everyone on the Forbes team should be proud of," said Forbes CEO From Mike Federle. Russell plans to serve as a visionary for the Forbes brand and won't be involved in day-to-day operations, according to the statement.
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