About Luminar Technologies. Advanced. The upstart lidar maker is expanding beyond hardware with the addition of much-needed commercial software and a computing system that makes its technology plug-and-play capable for autonomous vehicle developers. For more articles like this, please visit us at bloomberg.com, Like us on Facebook to see similar stories, An injured bald eagle entangled in fishing line was rescued by two children and some Florida firefighters, White man who intentionally drove into racial injustice protesters avoids prison, may have record expunged. Luminar CEO and co-founder Austin Russell is poised to become a billionaire at 25 when his autonomous driving technology company Luminar … Current Team. The company develops laser lidar sensors, … Luminar Technologies, which makes laser sensors for self-driving cars, started trading as a public company on Thursday, turning its 25-year-old founder Austin Russell into an instant billionaire. Austin Russell began Luminar in 2012 at age 17, when he left Stanford University and accepted a fellowship from the foundation of entrepreneur and venture capitalist Peter Thiel to … The founder of a startup that helps cars drive themselves just became a billionaire — and he’s barely old enough to rent a car on his own. Luminar, which is creating sophisticated lidar technology in a number of independent/ self-driving initiatives, is going public on Thursday with a special purpose acquisition company (SPAC) and the deal will make Luminar founder and CEO Austin Russell a millionaire – 25 years old. Contact Email hello@luminartech.com. Search Crunchbase. He founded Luminar at the age of 17 while pursuing research in optical technologies and exploring applications across the medical, augmented reality, robotics and automotive industries. The 25-year-old wunderkind who started his company after dropping out of Stanford as a teenager is officially a billionaire as his company that makes sensors for self-driving cars went public through a SPAC. Austin Russell Luminar Technologies – Austin Russell Self Driving Car. as of 1/3/21 College dropout Austin Russell founded and runs automotive sensor firm Luminar Technologies, which went public in a SPAC in Dec. 2020. Well, now there's Russell -- 25-year-old Austin Russell, to be exact. See how the young tech entrepreneur build his fortune innovating in laser technology. Supplying advanced optical sensors to the automotive giant's latest fleet of autonomous test cars is a big step forward for the Silicon Valley company led by 22-year-old CEO Austin Russell, and comes after Luminar emerged from stealth mode in April. It’s also reduced the size, weight and power needs of its device and cut the cost of a key component. Luminar will be traded on the Nasdaq under the ticker LAZR after its combination with Gores Metropoulos is completed, expected in the fourth quarter. The lidar sensing technology company works with major automakers as well as Intel's Mobileye. Following Luminar's listing on Nasdaq, Russell became the world's youngest self-made billionaire at age 25. Luminar is partnered with 7 of the top 10 global automakers and is set to power the introduction of highway self-driving and … Luminar Technologies ... and is proud to count Mobileye as a cornerstone launch program for Luminar," Austin Russell, founder and CEO, said in a statement. Luminar has 13 current team members, including Co-Founder & CTO Jason Eichenholz. Private Company Austin Russell, the 25-year-old founder and chief executive officer of Luminar Technologies Inc., is set to become one of the youngest self-made billionaires. SPAC Boom, Surging EV Stocks Are A Sign, 30 Under 30 Manufacturing 2021: Meet The Young Innovators Engineering The Future, Luminar Inks Deal To Sell Laser Sensors To Intel’s Mobileye Ahead Of Nasdaq Listing, Luminar Listing On Nasdaq Via SPAC Merger To Fund Its Laser Lidar Vision, Lidar Upstart Luminar’s Laser Eyes Are Moving Out Of The Lab And Into Self-Driving Volvos, Want To Lease A Lidar? Luminar creates the “eyes” for self-driving cars using lidar technology, a remote sensing technology that uses light to measure ranges (distances) to a target. Luminar CEO and co-founder Austin Russell is poised to become a billionaire at 25 when his autonomous driving technology company Luminar goes public on Thursday. Related by financial asset: Luminar Technologies, Forbes Favorites 2020: The Year’s Best Transportation Stories, The Most Notable New Billionaires Of 2020, How The World's Youngest Self-Made Billionaire Built His Fortune. The Silicon Valley startup led by 24-year-old optics prodigy Austin Russell has now raised $250 million to commercialize its laser sensor tech. Founded in 2012 by CEO Austin Russell, Luminar is the leading autonomous vehicle and lidar technology company for consumer cars and trucking. Austin Russell, founder and CEO of Luminar Technologies Inc., demonstrates imaging created by a lidar, which bounces lasers off objects to guide vehicles. Luminar Has Novel Subscription Plan For Its New Self-Driving Car Perception System, Luminar Lands $100 Million Funding Boost To Ramp Up Lidar For Self-Driving Cars And Trucks, Volvo Takes Stake In Laser Vision Upstart Luminar, To Use Its Sensors In Self-Driving Cars, A LiDAR Prodigy Cranks Up Production In The Race For Robot Car Vision Sales, Austin Russell: I Just Have A Lot Of Curiosity, LiDAR Startup Luminar's First Driverless Tech Partner Is Toyota's TRI, A 22-Year-Old CEO Has A Vision For Making Self-Driving Cars A Reality. Austin Russell is the founder and CEO of Luminar Technologies. Austin Russell, founder and CEO of Luminar Technologies Inc., demonstrates imaging created by a lidar, which bounces lasers off objects to guide vehicles. Austin Russell, 22, is in the race to build the first self-driving car. Company Type For Profit. Luminar is the autonomous vehicle and lidar technology company for consumer cars and trucking. That will give him control over the election of board members and all other major decisions submitted to stockholders for approval. An … Read More: Thiel-backed Luminar to go public in $3.4 billion merger. Led by 23-year-old optics wunderkind Austin Russell, Luminar will provide both its hardware, combining lidar sensor and cameras, and new perception software that helps the AI driving Volvo’s vehicles more rapidly interpret copious amounts of sensor data flowing in. Autonomous vehicle startup Luminar Technologies Inc said on Monday it would go public through a merger with blank-check firm Gores Metropoulos Inc for about $3.4 billion. The Silicon Valley maker of lidar for self-driving vehicles shifts to a new phase with a multiyear agreement to supply high-tech sensors to Volvo Cars. The fast-growing maker of laser lidar sensors that help self-driving cars see the world gets $400 million of cash and an estimated $3.4 billion market cap from the merger. Luminar Technologies founder Austin Russell, 25, at a Volvo Cars factory. All Rights Reserved. Russell will be the sole owner of Luminar’s Class B shares, which hold 10 times the voting power of the standard Class A shares, according to the filing. Volvo says it will use Luminar’s technology to enable hands-free highway driving in cars starting in 2022. Luminar's 25-year-old founder Austin Russell becomes billionaire after IPO. Luminar competes with laser lidar makers like Velodyne and Aeva, which make high-tech sensors to help self-driving vehicles "see" their surroundings. Russell is expected to hold about 83% of the voting power at Luminar after its combination with special purpose acquisition company Gores Metropoulos Inc. is completed, according to a registration statement filed Monday. There's been a rush of public listings by companies that won't have meaningful revenue for years but the billionaire tech investor is excited about a broader transformation. San Francisco — Austin Russell, the 25-year-old founder and CEO of Luminar Technologies, is set to become one of the youngest self-made billionaires. Russell founded Luminar, an autonomous vehicle sensor and software company in 2012. Auston Russell is a billionaire at 25 years old. Connect with friends faster than ever with the new Facebook app. Besides, he is an engineer, entrepreneur, and LiDAR industry pioneer for Autonomous Vehicles. Luminar has 2 board members and advisors, including Scott McGregor. Austin Russell, founder and ceo of LIDAR Company Luminar, is officially the world's youngest self-made billionaire after his company went public in December. All Rights Reserved. © 2021 Forbes Media LLC. From a wave of stock listings by electric vehicle and laser sensor startups to bold plans for high-speed trains, robotic trucks and robotaxis, 2020 was an exciting year in the ongoing evolution of transportation. Led by 23-year-old CEO Austin Russell, Luminar says it can now make enough of the advanced sensors to supply every autonomous test vehicle on the road. Now a LiDAR device designed to leapfrog the competition is heading for mass-production. The company spent its first five years in “deep stealth”. Founded in 2012, Luminar Technologies works at the junction of the transportation and technology sectors. Russell, 25, was just 17 when he founded Luminar in 2012. Luminar Technologies, Inc. (LAZR) NasdaqGS - NasdaqGS Real Time Price. Photo: Luminar. Luminar Technologies CEO Austin Russell, 25, secured a hefty fortune after his company’s stock market debut on Thursday. Legal Name Luminar Technologies, Inc. Stock Symbol NASDAQ:LAZR. His exact equity stake in the company hasn’t yet been disclosed. Try Pro free ... About. Luminar founder Austin Russell joins "Squawk Box" to discuss. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, 30 Under 30 - Manufacturing & Industry 2018, Meet The World’s Newest—And Youngest—Self-Made Billionaire: Luminar’s Austin Russell, Peter Thiel Says Covid Marks 21st Century’s True Start. The company will raise more than $500 million as part of the deal, helping accelerate its efforts to get its laser sensors onto the production lines of global automakers, Russell told Bloomberg in August. More than 200 newcomers joined the billionaires ranks in 2020 -- including the inventors of a fee-free stock trading app, the founders of a food delivery service and a 25-year-old entrepreneur behind automotive sensor firm Luminar Technologies. (Bloomberg) -- Austin Russell, the 25-year-old founder and chief executive officer of Luminar Technologies Inc., is set to become one of the youngest self-made billionaires. A … Founded in 2012, Luminar is a 350-person team with offices in Palo Alto, Orlando, Colorado Springs, Detroit, and Munich. Luminar is backed by tech billionaire Peter Thiel, who awarded Russell a $100,000 fellowship that allowed him to quit Stanford at age 17. The company was founded in Silicon Valley and expanded its operations to Orlando in 2012. Why it matters: Luminar is emerging as one of the leading suppliers of lidar technology, which uses laser … Find the latest Luminar Technologies, Inc. (LAZR) stock quote, history, news and other vital information to help you with your stock trading and investing. An optics prodigy, Russell developed the idea for Luminar when he was just 17 and studying physics at Stanford University. Oh, and did we mention he started his company at just 17? Luminar Technologies CEO Austin Russell, 25, secured a hefty fortune after his company’s stock market debut this week. … Luminar, an autonomous vehicle technology startup, is set to go public through a SPAC merger with Gores Metropoulos Thursday. Overall, LiDAR technology is vital for autonomous vehicles (AVs) — and Luminar has a chance at being the leading developer. Here are five of the year’s best stories. He founded the company at the age of 17 while pursuing research in optical technologies and exploring applications across the medical, augmented reality, robotics, and automotive industries. 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