Mobileye Valued At $5.31B Following NYSE IPO

August 3, 2014 | The developer of car accident prevention systems Mobileye raised $890 million in its New York Stock Exchange IPO on August 1, 2014 (Friday), putting the company value at $5.31 billion, a much higher amount than estimated. The current valuation makes Mobileye the Israeli company with the fifth highest market cap on Wall Street. The Mobileye warning system consists of a set of cameras and artificial vision technology that let the driver know when they are prone to an accident. Mobileye’s system issues warnings when a car strays out of its lane, tailgates the car in front of it and even when the vehicle gets too close to pedestrians and cyclists on the street. Mobileye has already sold its technology to more than 20 automobile manufactures, including General Motors and BMW, and their systems have already been installed in up to 3.3 million vehicles.