"First, let's catch up. You might recall that Austin Russell, the billionaire founder and CEO of Luminar, was more or less pushed out of the company by its board following an ethics inquiry. But Russell didn't go quietly into the night. He popped back up on our radar a few weeks ago with the launch of a new company called Russell AI Labs. And now (cue the deep and foreboding "dum dum duuuuummmm"): He has made a bid to acquire Luminar."
"This may look like a possible hostile move - it was, after all, disclosed in a filing from Russell, and Luminar is not commenting on the proposal. But we've learned from a source that members of Luminar's board approached the founder about the idea last month. (The word we were told was they "encouraged" it.) The implication here is that some of Luminar's nine-member board really does want him back,"
TechCrunch Mobility invited readers to participate in a poll about the best business model for autonomous vehicle technology. Senior reporter Sean O'Kane reported that Austin Russell, the billionaire founder and CEO of Luminar, was pushed out following an ethics inquiry. Russell launched Russell AI Labs and has made a bid to acquire Luminar. The bid was disclosed in a filing and Luminar declined to comment on the proposal. Sources indicated some members of Luminar's nine-member board approached and encouraged Russell to pursue the idea last month. The proposed takeover could involve Russell AI Labs acquiring another automotive tech company and merging it with Luminar.
Read at TechCrunch
Unable to calculate read time
Collection
[
|
...
]