Initial public offerings (IPOs) are known as a great way for investors to get big returns in a relatively short time. On average, they can bring 40% returns in the first 3 months. Once the initial funding stages are out of the way, IPOs can be a great way for companies to gain exposure to the open market and continue their growth. If you’re a car enthusiast, you might have heard about this innovative company or used its technology. If you’ve wondered, “is Mobileye publicly traded?” read on to find out about Mobileye stock IPO and all the important information about Mobileye IPO 2022.
Mobileye History
Mobileye is an Israeli technology company that develops systems for autonomous driving and advanced driver assistance (ADAS). The company has headquarters in Jerusalem, Israel, with regional offices in the US, China, Japan, and Germany.
Mobileye was founded in 1999 by Amnon Shashua, who developed a vision system for detecting vehicles using a camera and a small computer. More than 20 years later the company is a world leader in automotive computer vision systems. It makes technology for self-driving cars and driver assistance, including cameras, computer chips, and software to provide features like lane assist and advanced cruise control.
The company aims to be a leader in the field of completely driverless vehicles, and has presented a number of vehicles equipped with advanced driverless technology.
Mobileye was already public after its 2014 IPO, which raised $890 million, becoming the largest Israeli IPO on the US stock market. But in 2017 the company was acquired by Intel for $15.3, which also became the largest acquisition of an Israeli tech company.
Mobileye has a number of partnerships with major automakers, including General Motors, BMW, Nissan, Volkswagen, and Toyota. Nowadays, nearly every major automaker has a model that features Mobileye’s camera sensors and other technology.
The company had a partnership with Tesla in 2015, but this was ended by Tesla after a fatal crash involving a self-driving Model S in 2016. The companies blamed each other for the accident and parted ways.
In late 2021 Intel announced it would launch an IPO for Mobileye in 2022 without giving up its majority ownership.
Read on to find out about Mobileye IPO date and price and other key info.
Mobileye Public Listing Key Data and IPO Date
Mobileye IPO Date: October 26, 2022
Ticker: MBLY
Exchange: Nasdaq
IPO stock price: $21
Valuation at IPO: $17 billion
Market cap (11/29/22): 22.48 billion
CEO: Amnon Shashua
Category: Automotive technology
Mobileye launched its IPO on Nasdaq, which is very common for tech companies, although last time Mobileye was listed on the NYSE but was traded under the same stock symbol, MBLY.
Intel is opted to go for a traditional IPO for Mobileye rather than via a special purpose acquisition company (SPAC). The latter makes the IPO process cheaper and faster, which is why many new companies in 2020-2021 went public this way. However, this method has many disadvantages and many of these IPOs didn’t do too well.
Amnon Shashua, the founder and current CEO of Mobileye, who owned a substantial stake in the company and sold it to Intel in 2017, has an estimated net worth of $1.5 billion.
So What About Investing Now?
Even though we are yet to see mass adoption of completely driverless vehicles, the technology to provide this functionality to consumers and to businesses is getting very close.
But even without vehicles that drive themselves automatically, Mobileye has a great position on the market and many key partnerships with automakers who happily fit their cars with Mobileye’s technology. If this stock remains public long enough this time, it will surely benefit from any major developments in this area.
The Mobileye IPO is an interesting move by Intel in a market of such high uncertainty, so hopefully more companies will be bold enough to do their IPOs.
Many IPOs failed recently, but the partnership between Intel and Mobileye is strong and is likely to grow stronger after the IPO, so it might be a good idea to jump on board.
Check out our IPO section to look at other scheduled IPOs.
If you want to find companies that match your interests, investment goals and portfolio, try Gainy for some great IPO investment ideas, as well as established blue-chip companies and a variety of other assets.
FAQ
When is the Mobileye IPO date?
The Mobileye stock IPO date was October 26, 2022. That's when the Israeli company became a separate stock on the Nasdaq with the ticker MBLY.
Is Mobileye a public company?
Yes, Mobileye became a public company for a second time in October 2022 but it was already public from 2014 until 2017 before being acquired by Intel, who confidentially filed for an IPO in December 2021.
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