Safety Pays Off: Automotive Company Gets $890 Million In IPO

Mobileye an automotive industry company that creates products that are intended to improve driver safety, came away with an $890 million-dollar IPO. The company’s product line includes camera-based safety enhancements. The additions allow the driver have visibility where they wouldn’t before this innovation.

The products are able to detect possible impacts and alert the motorist in hopes of preventing the collision. Pedestrians and specifically bicyclists are mentioned on Mobileye’s site as targets for the system to watch out for. The systems also, as GPS systems have done for years, alert the driver if they exceed the speed limit.

With Mobileye designed to have the driver’s back, today was time for investors to stand behind the company. The company was valued at $8.4 billion in the offering. This is certainly an organization that could stand to benefit from the announcement from the lean by the government towards electronic enhancements in vehicle safety.

This likely wont’ be the last time that this organization is making headlines, as their products are already in a reported 3 million vehicles, including those in the Tesla Motors fleet. With Tesla looking to grow by leaps and bounds, Mobileye could stand to benefit.

Another reason that this IPO stood out is that it’s the largest ever for an Israeli company. The organization was created back in 1999 by University of Jerusalem professor Amnon Shashua and Ziv Aviram. Today’s offering meant $92 million going to the founders of the 15 year old organization.