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Embark Technology

Autonomous truckingUSA
💀 Dead / Bankrupt
Peak $5.2 BillionToday
~-98.6%
from peak
  1. 🦄
    Became a unicorn
    2021
  2. 📈
    Peak valuation
    $5.2 Billion ’21
  3. 💔
    Became a Unitard
    Aug 2023
  4. 💸
    Last valuation
    ~$0
Current status
Taken private by Applied Intuition $71M ($2.88/sh) Aug 2023

How it happened

Embark Technology was a US autonomous-trucking developer that went public via SPAC in 2021 at a valuation around $5.2B. Slow commercialization, heavy cash burn, and a brutal market for pre-revenue self-driving startups gutted its value. Applied Intuition took it private in August 2023 for just $71M ($2.88/share), roughly 98.6% below peak, after the company had largely wound down operations.

Source: Embark 8-K Aug 2 2023