Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Fabrice Coffrini/AFP via Getty Images

Fisker, one of the many electric-vehicle startups with big plans to make cars but no actual production yet, could soon become a public company.

Why it matters: If Fisker has a successful public launch, it'll be yet another sign that the market hive-mind sees something in electric-vehicle startups that aren't yet reflected in their actual financials.

Driving the news: Reuters reported Thursday that Fisker is in talks to start trading via sale to a so-called blank check acquisition company — essentially an already public firm that Fisker would inhabit.

  • The reported discussions come after Nikola Motors, an electric and hydrogen fuel cell truck company, started trading via such a transaction last month and saw its shares quickly soar.
  • Nikola hasn't started building trucks. Fisker doesn't plan production of its SUV until 2022.
  • Tesla is a relative graybeard, but it has an astonishing market cap (around $260 billion, largest in the whole auto industry) even though it's not yet consistently profitable.

The bottom line: Electric vehicle startups remain a tiny share of the market, but the ability of companies to attract investor interest — indeed Fisker just raised another $50 million and Karma Automotive just raised another $100 million — underscores how the transition is underway, and investors want in early.

Go deeper

MicroAcquire's marketplace helps small businesses get acquired

Illustration: Aïda Amer/Axios

Flashy startup acquisitions with big price tags get all the media attention — as do their investors if they’re getting hefty returns from their venture capital gambles.

Yes, but: There’s a quiet world of tiny acquisitions for equally small businesses that rarely show up on the media radars, as entrepreneur and investor Andrew Gazdecki has witnessed with his marketplace MicroAcquire.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Top HHS spokesperson pitched coronavirus ad campaign as "helping the president" — Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases — Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  4. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.
Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Leon Black says he "made a terrible mistake" doing business with Jeffrey Epstein

Photo illustration: Sarah Grillo/Axios. Photo: Rick Friedman/Corbis/Getty Images

Apollo Global Management CEO Leon Black on Thursday said during an earnings call that he made a "terrible mistake" by employing Jeffrey Epstein to work on personal financial and philanthropic services.

Why it matters: Apollo is one of the world's largest private equity firms, and already has lost at least one major client over Black's involvement with Epstein.