A Rivian R1T electric pickup truck during the company’s IPO outside the Nasdaq MarketSite in New York, on Wednesday, Nov. 10, 2021.
Bing Guan | Bloomberg | Getty Images
(Click here to subscribe to the new Delivering Alpha newsletter.)
Rivian’s blockbuster initial public offering last week pushed the total exit value for U.S. public-market listings this year beyond an unprecedented $1 trillion marker, a record that more than doubles 2020 levels, according to data compiled by PitchBook.
The PitchBook data includes traditional IPOs as well as direct listings and special purpose acquisition vehicles, noting that 17% of this year’s collated valuation figure came from SPACs.
The $1 trillion…