A spokesperson for Orlando, Florida-based Luminar didn’t respond to requests for comment. 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 lidar sensing technology company works with major automakers as well as Intel's Mobileye. See how the young tech entrepreneur build his fortune innovating in laser technology. Eight years later, Russell, 25, is taking Luminar public in a $3.4 billion deal that will see him retain full control over the company and make him among the youngest chief executives of a publicly traded firm. Luminar Rises in Market Debut, Making 25-Year-Old Founder a Billionaire Austin Russell started the maker of sensor tech for self-driving cars when he was 17. Luminar founder Austin Russell joins "Squawk Box" to discuss. All Rights Reserved. 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. Austin Russell, founder and CEO of Luminar… The company develops laser lidar sensors, … His exact equity stake in the company hasn’t yet been disclosed. Founded in 2012 by CEO Austin Russell, Luminar built a new type of lidar from the chip-level up, with technological breakthroughs across all core components. Luminar Technologies, Inc. (LAZR) NasdaqGS - NasdaqGS Real Time Price. He has developed an advanced LiDAR sensor that helps autonomous vehicles see and understand the world around them. 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. 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. All Rights Reserved. Connect with friends faster than ever with the new Facebook app. Luminar CEO and co-founder Austin Russell is poised to become a billionaire at 25 when his autonomous driving technology company Luminar … Photo: Luminar. Luminar competes with laser lidar makers like Velodyne and Aeva, which make high-tech sensors to help self-driving vehicles "see" their surroundings. The company makes light detection and ranging sensors, or lidar, that bounce lasers off objects to guide vehicles. He was probably born in the year 1995. … 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. This year's ambitious young entrepreneurs are making their mark through innovations in 3D printing, low-cost construction, apparel and aerospace. 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 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. 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. In April 2017, Luminar came out of stealth after five years in development to debut a new sensing technology that is poised to … Austin Russell Luminar Technologies – Austin Russell Self Driving Car. Find the latest Luminar Technologies, Inc. (LAZR) stock quote, history, news and other vital information to help you with your stock trading and investing. College dropout Austin Russell founded and runs automotive sensor firm Luminar Technologies, which went public in a SPAC in Dec. 2020. Austin Russell, 22, is in the race to build the first self-driving car. Well, now there's Russell -- 25-year-old Austin Russell, to be exact. Why it matters: Luminar is emerging as one of the leading suppliers of lidar technology, which uses laser … 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. Austin Russell is the founder and CEO of Luminar Technologies. A … Luminar has 2 board members and advisors, including Scott McGregor. Technology; Strange; Horoscope ; ... Luminar's 25-year-old founder Austin Russell becomes billionaire after IPO. Now a LiDAR device designed to leapfrog the competition is heading for mass-production. Current Team. Luminar CEO Austin Russell's obsession with 3D image sensors began in his teen years. Here are five of the year’s best stories. The company was founded in Silicon Valley and expanded its operations to Orlando in 2012. His goal was to understand how these technologies could best be applied to autonomous driving. Volvo says it will use Luminar’s technology to enable hands-free highway driving in cars starting in 2022. 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. The sensors are expensive, and Luminar has emerged from a crowded startup field in part by bringing down the cost. 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. 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. 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. He dropped out of college in 2012 after receiving a $100,000 Thiel Fellowship, a program funded by billionaire Peter Thiel to nurture entrepreneurs. © 2021 Forbes Media LLC. © 2021 Forbes Media LLC. (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. Founded in 2012, Luminar is a 350-person team with offices in Palo Alto, Orlando, Colorado Springs, Detroit, and Munich. Search Crunchbase. Luminar, an autonomous vehicle technology startup, is set to go public through a SPAC merger with Gores Metropoulos Thursday. 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 is partnered with 7 of the top 10 global automakers and is set to power the introduction of highway self-driving and … The maker of laser lidar sensors that help self-driving cars see the world landed a deal that boosts its potential future revenue as the young company prepares for a Nasdaq listing. Luminar Technologies founder Austin Russell, 25, at a Volvo Cars factory. 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? For more information please visit www.luminartech.com . 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. Luminar is the autonomous vehicle and lidar technology company for consumer cars and trucking. About Luminar Technologies. Advanced. (Bloomberg) -- Austin Russell dropped out of Stanford University in 2012 to focus on his driverless-car startup, Luminar Technologies Inc. How Old Is Luminar CEO Austin Russell? Provided By - Video Elephant on December 04, 2020. 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. 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. Austin Russell, founder and CEO of Luminar Technologies Inc., demonstrates imaging created by a lidar, which bounces lasers off objects to guide vehicles. 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. The Florida-based firm — which he founded when he was just 17 — … Try Pro free ... About. An optics prodigy, Russell developed the idea for Luminar when he was just 17 and studying physics at Stanford University. 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. Following Luminar's listing on Nasdaq, Russell became the world's youngest self-made billionaire at age 25. Auston Russell is a billionaire at 25 years old. 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. Luminar Technologies CEO Austin Russell, 25, secured a hefty fortune after his company’s stock market debut on Thursday. This enables us to attract the top leaders across the industry as we establish a greater presence in automotive and focus on rapid execution and scale,” said Austin Russell, Founder and CEO of Luminar Technologies. 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. 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. An … Shares of lidar-sensor maker Luminar Technologies (NASDAQ:LAZR) were on the rebound on Wednesday morning, trading higher after it clarified … Company Type For Profit. Back to Featured. Luminar's 25-year-old founder Austin Russell becomes billionaire after IPO. 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. Besides, he is an engineer, entrepreneur, and LiDAR industry pioneer for Autonomous Vehicles. The company spent its first five years in “deep stealth”. 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. 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. Shares of Luminar rose above $30 a share on Friday, a massive 43 percent gain for the day on top of big gains on Thursday. Austin Russell, founder and CEO of Luminar Technologies Inc., demonstrates imaging created by a lidar, which bounces lasers off objects to guide vehicles. 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. Luminar Technologies was founded in 2012 by then 17-year old Austin Russell, a 2013 Thiel Fellow, with a strong interest in optics, lasers and machine vision. Legal Name Luminar Technologies, Inc. Stock Symbol NASDAQ:LAZR. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. Contact Email hello@luminartech.com. Luminar is also backed by GoPro Inc. founder Nick Woodman and a unit of Volvo Car AB. Russell founded Luminar, an autonomous vehicle sensor and software company in 2012. Overall, LiDAR technology is vital for autonomous vehicles (AVs) — and Luminar has a chance at being the leading developer. It’s also reduced the size, weight and power needs of its device and cut the cost of a key component. Luminar Technologies CEO Austin Russell, 25, secured a hefty fortune after his company’s stock market debut this week. Luminar’s Young Founder to Have Full Control When Firm Goes Public. The Silicon Valley startup led by 24-year-old optics prodigy Austin Russell has now raised $250 million to commercialize its laser sensor tech. 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. Founded in 2012 by CEO Austin Russell, Luminar is the leading autonomous vehicle and lidar technology company for consumer cars and trucking. 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. 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. Read More: Thiel-backed Luminar to go public in $3.4 billion merger. Oh, and did we mention he started his company at just 17? 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. 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 … 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. 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. That will give him control over the election of board members and all other major decisions submitted to stockholders for approval. Russell will … Luminar will be traded on the Nasdaq under the ticker LAZR after its combination with Gores Metropoulos is completed, expected in the fourth quarter. Luminar has 13 current team members, including Co-Founder & CTO Jason Eichenholz. Show full articles without "Continue Reading" button for {0} hours. Lidar, that bounce lasers off objects to guide vehicles 25 years old to the! Lidar makers like Velodyne and Aeva, which went public in a SPAC merger with Gores Metropoulos.... ; Horoscope ;... Luminar 's 25-year-old founder Austin Russell joins `` Squawk Box to! Off objects to guide vehicles spent its first five years in “ deep stealth ” Orlando. Hands-Free highway driving in cars starting in 2022 build the first self-driving Car public a! 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