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 corporate prepares to go public by way of a merger with a blank-check agency.
Reinvent Technology Partners, a particular goal acquisition firm (SPAC) headed by LinkedIn co-founder Hoffman, Zynga founder Mark Pincus and longtime investor Michael Thompson, is taking the 12-year-old firm public in a $6.6 billion reverse merger.
Apart from Hoffman, the opposite members to be added to the board embrace Google General Counsel Halimah DeLaine Prado, Toyota Motor Corp board member and working officer James Kuffner, and former Southwest Airlines CFO Laura Wright.
The deal is predicted to shut within the second quarter, following which the mixed firm can be known as Joby Aviation Inc and can commerce on the New York Stock Exchange.
Joby’s electrical plane is predicted to function as a part of an air taxi service starting in 2024.