It created an electric pickup and an electric SUV while prepping a monster IPO.
It now plans to sell an even cheaper SUV that could make Rivian a dominant EV player for years to come.
These changes mean that, for the first time since the company broke stealth in 2018, Rivian’s immediate future is actually remarkably clear.
Fisker is on the brink of bankruptcy after dealing with underwhelming sales of its electric SUV and myriad quality and service problems.
If Rivian wants to survive long enough to ship its more affordable mass-market R2, it really needs these revamped vehicles to sell well.
Anticipation is building for TechCrunch Early Stage 2024, where industry leaders and budding entrepreneurs alike are eagerly awaiting a bevy of startup-focused sessions.
Attendees can expect to be inspired by Oliver Palnau’s entrepreneurial journey, which began at the age of 23 with his venture into the real estate market.
During the session, Palnau and Romano will detail how to ignite interest from customers and investors, build a minimum viable product (MVP), raise initial capital, and assemble a winning team.
Attendees will leave the session empowered and equipped with practical advice to embark on their own entrepreneurial journeys with confidence and determination.
We can’t wait for this session and all the other early stage–focused content at TechCrunch Early Stage 2024.
After naming Phil Graves the chief financial officer of alternative protein maker Meati Foods at the beginning of February, he is now the company’s new chief executive officer.
The company also said it was reducing its workforce by 13% as Meati works to “build a financially sustainable business,” Graves told TechCrunch exclusively.
Products are now in over 3,600 retail locations nationwide, including Whole Foods Market, Meijer, Cub Foods and Sprouts Farmers Market.
Graves even said the company has a goal of expanding that to 10,000 locations before the end of 2024.
Once fully ramped up, the facility will have the capability of producing more than 45 million pounds of product, Huggins told TechCrunch at the time.
Pitch, the company behind a collaborative presentation software for businesses, is scaling back and bootstrapping, with CEO and co-founder Christian Reber stepping down and two-thirds of its employees losing their jobs.
This translates roughly to 80 personnel, based on the 120 headcount figure Pitch has published on its about page.
As with just about every other VC-backed startup, Pitch has clearly faced challenging times in terms of maintaining growth and keeping their investors happy.
“Despite having more than 4 years of runway, we know that a sustainable path has a much higher chance of success than the path we were on,” Reber added.
“Going forward, we’ll be a significantly smaller team focused on creating maximum value for our customers and driving sustainable growth.”
Joby Aviation is aiming to become the first company to commercially launch an eVTOL aircraft by 2025. Their strategy includes developing a fleet of reliable, affordable electric vertical takeoff and…
