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Volta

EV chargingUSA
🤝 Acquired
Peak $1.4 BillionToday
~-88%
from peak
  1. 🦄
    Became a unicorn
    2021
  2. 📈
    Peak valuation
    $1.4 Billion ’21
  3. 💔
    Became a Unitard
    2022
  4. 💸
    Last valuation
    ~$168M
Current status
Acquired by Shell ~$169M (2023)

How it happened

Volta operated an ad-supported EV charging network with media-display chargers and went public via SPAC in 2021 at roughly a $1.4B valuation. Mounting losses and a cash crunch sent its shares below $1B and into going-concern territory. Shell acquired the company for about $169M in 2023, roughly 88% below its peak valuation.

Source: De-SPAC 2021