Wednesday, November 10, 2021
An autonomous trucking company that was founded by two Waterloo Engineering students just five years ago has gone public with a valuation of approximately US $5 billion.
In a deal that closed today, Embark Trucking merged with Northern Genesis 2, a special purpose acquistion company, to become Embark Technology Inc. with headquarters in San Francisco.
The merger means founders Alex Rodrigues and Brandon Moak, both 26, hold shares worth hundreds of millions of dollars each.
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