text: Original by Dongchedi Li Shuaifei
[Original by Dongchedi Industry] Recently, according to foreign media citing people familiar with the matter, Intel is planning to let its autonomous driving subsidiary Mobileye go public at a valuation far lower than previously expected.
Previously, the valuation of Intel for Mobileye was up to $50 billion; and now, according to people familiar with the matter, Intel's valuation expectations of Mobileye have dropped to $20 billion. Not only that, the number of shares Mobileye has also decreased during its IPO process.
Picture source: Mobileye
It is understood that on September 30, 2022 local time, Mobileye officially submitted a listing application document to U.S. Securities and Exchange Commission , which shows that the company will be listed on the Nasdaq Stock Exchange in the United States under the code "MBLY". The transaction officially begins on October 26.
Mobileye file submitted to the SEC
It should be noted that although Intel has lowered its valuation expectations for Mobileye, Mobileye's IPO plan remains unchanged and will still be officially listed and traded on October 26.
public information shows that Intel acquired Mobileye for nearly $15.3 billion in August 2017, when Mobileye founder Amnon Shashua joined Intel and served as Intel's senior vice president; since then, Mobileye continued to operate under Intel.
Amnon Shashua
According to Intel's financial report, in 2021, Mobileye achieved revenue of US$1.4 billion, and increased by 43% year-on-year, becoming the highest growth rate of Intel's main business departments. However, in the fourth quarter of 2021, Mobileye's revenue increased by 7% year-on-year, dragging the annual results back.
In the first quarter of 2022, Mobileye's revenue increased by 5% year-on-year; Fortunately, in the second quarter of 2022, Mobileye's revenue increased by 41% simultaneously to US$460 million. However, Mobileye's full-year revenue could see a 16% year-on-year decline this year, according to Bloomberg.
