Latest news with #RobWiesenthal
Yahoo
7 days ago
- Business
- Yahoo
Why Joby Aviation Shares Are High Flying Today
Aug 4 - Joby Aviation (NYSE:JOBY) soared nearly 20% on Monday after announcing a deal to acquire Blade Air Mobility's (BLDE) passenger air-taxi business in a transaction valued up to $125 million. Blade shares surged 28% following the news. The acquisition gives Joby direct access to Blade's high-traffic terminals in New York and southern Europeprime infrastructure for urban air mobility. Blade's passenger division, which flew over 50,000 people in 2024 from 12 terminals including JFK, Newark, and Wall Street, will continue operating as a wholly-owned subsidiary led by Blade CEO Rob Wiesenthal. Warning! GuruFocus has detected 4 Warning Signs with JOBY. List of 52-Week Lows List of 3-Year Lows List of 5-Year Lows The deal excludes Blade's medical transport division, which remains a separate publicly traded company. However, both firms plan to collaborate on medical transportation going forward. For Joby, the acquisition arrives ahead of its planned air taxi rollout in Dubai next year and positions the company to leverage a loyal customer base and urban footprint as it seeks FAA certification. This is another strategic play for Joby as it competes to be first to the market with commercialised electrical vertical take-off and landing (eVTOL) aircraft. Joby has laid out foundation for real-world deployment on infrastructure, leadership continuity, brand alignment. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
7 days ago
- Business
- Yahoo
Why Joby Aviation Shares Are High Flying Today
Aug 4 - Joby Aviation (NYSE:JOBY) soared nearly 20% on Monday after announcing a deal to acquire Blade Air Mobility's (BLDE) passenger air-taxi business in a transaction valued up to $125 million. Blade shares surged 28% following the news. The acquisition gives Joby direct access to Blade's high-traffic terminals in New York and southern Europeprime infrastructure for urban air mobility. Blade's passenger division, which flew over 50,000 people in 2024 from 12 terminals including JFK, Newark, and Wall Street, will continue operating as a wholly-owned subsidiary led by Blade CEO Rob Wiesenthal. Warning! GuruFocus has detected 4 Warning Signs with JOBY. List of 52-Week Lows List of 3-Year Lows List of 5-Year Lows The deal excludes Blade's medical transport division, which remains a separate publicly traded company. However, both firms plan to collaborate on medical transportation going forward. For Joby, the acquisition arrives ahead of its planned air taxi rollout in Dubai next year and positions the company to leverage a loyal customer base and urban footprint as it seeks FAA certification. This is another strategic play for Joby as it competes to be first to the market with commercialised electrical vertical take-off and landing (eVTOL) aircraft. Joby has laid out foundation for real-world deployment on infrastructure, leadership continuity, brand alignment. This article first appeared on GuruFocus.
Time of India
7 days ago
- Business
- Time of India
Blade and Joby stocks soar after $125 million rideshare deal — is this the future of flying taxis?
Joby Blade's $125 million deal: Blade Air Mobility and Joby Aviation stocks saw a surge after a 125 million dollar deal. Joby will acquire Blade's helicopter passenger rideshare business. Blade's medical transport unit will become Strata Critical Medical. Rob Wiesenthal will continue to lead Blade's passenger operations. Joby aims to start commercial eVTOL flights as early as 2026. FILE PHOTO: An electric air taxi by Joby Aviation flies near the Downtown Manhattan Heliport in Manhattan, New York City, U.S., November 12, 2023. REUTERS/Roselle Chen/File Photo Tired of too many ads? Remove Ads Joby Stock and Blade Stock Surge After $125 Million Deal to Reshape Urban Air Travel Blade's Medical Transport Arm to Spin Off Into New Public Company Blade Has Been Struggling Financially Despite Growth Tired of too many ads? Remove Ads Joby Gains Infrastructure as It Prepares for Commercial eVTOL Flights FAQs In a bold move signalling the accelerating race toward airborne urban transport, Blade Air Mobility and Joby Aviation saw their stocks surge Monday morning after announcing a $125 million deal that could reshape the future of city travel, as per a stock jumped nearly 30%, while Joby rose over 5%, after revealing that Joby will acquire Blade's helicopter passenger rideshare business, which currently whisks busy New Yorkers to destinations like the Hamptons or nearby airports with speed and convenience, as reported by Yahoo agreement excludes Blade's medical transport unit, which will be spun off into a new public company called Strata Critical Medical, according to the Yahoo Finance READ: Tesla in turmoil? Elon Musk admits he could be ousted, slams claims of loan ties to stock Blade will now become a wholly owned subsidiary of Joby, with Blade founder and CEO Rob Wiesenthal continuing to lead its passenger transport operations, as reported by Yahoo move comes at a time when Blade, despite flying over 50,000 passengers in 2024 across 12 terminals, has struggled to achieve profitability since its public market debut via SPAC in 2021, according to the report. Prior to today's rally, Blade shares were down 11% year to date and down about 60% from its peak, as reported by Yahoo READ: Steelcase stock skyrockets after $2.2 billion HNI buyout — what it means for investors More than just a strategic acquisition, the deal marks a clear sign of where urban mobility is headed. Joby Aviation, a $14.4 billion firm backed by Toyota, is pioneering electric vertical takeoff and landing aircraft (eVTOLs) that could one day become the backbone of flying taxi services, as per the Joby, the acquisition adds real-world infrastructure and experience to its ambitious timeline. The company is working toward FAA certification and plans to have five aircraft in the final phases of approval by 2026. It aims to begin commercial battery-powered electric vertical takeoff and landing aircraft eVTOL flights as soon as next year, according to the aims to begin commercial eVTOL service as early as 2026, pending FAA certification, as per Yahoo Finance founder and CEO Rob Wiesenthal will continue to lead its passenger operations.
Yahoo
7 days ago
- Business
- Yahoo
Joby Aviation to buy Blade Air Mobility's ride-share business
Electric air taxi developer Joby Aviation has agreed to buy Blade Air Mobility's helicopter ride-share business for as much as $125 million. Joby is buying the Blade brand and the company's passenger business, which includes operations in the United States and Europe. Blade founder and CEO Rob Wiesenthal will continue to lead the business, which will operate as a wholly-owned subsidiary of Joby. Blade's medical division, which transports organs, isn't included in the transaction and will remain a separate company. The deal gives Joby instant access to a network of 12 terminals in key markets like New York City — notably, a dedicated lounge as well as terminal bases at John F. Kennedy International Airport, Newark Liberty Airport, the West Side of Manhattan, the East Side of Manhattan, and Wall Street. Blade, founded in 2014, doesn't own a fleet of aircraft. Instead, the company has developed a digital network that allows passengers to book private rides on helicopters across several short-hop routes. The service has grown in popularity as well-heeled customers seek out ways to avoid traffic on their commutes from the suburbs into Manhattan, or to The Hamptons for weekends and holidays. The company, which also offers access to routes from Nice, France, to Monaco and Saint-Tropez, flew more than 50,000 passengers in 2024. Joby Aviation founder and CEO JoeBen Bevirt described the deal as a 'strategically important' acquisition that will support its launch of its commercial operations in Dubai and subsequent global rollout. The company said it will integrate its software, which is designed to manage air taxi operations, into Blade's passenger service. Joby, founded in 2009 by Bevirt, has been working for more than a decade to develop, certify and produce an electric vertical take off and landing (eVTOL) aircraft for commercial taxi service in cities. (The company is also pursuing a separate defense-related business.) Eventually, the branded Blade service will use electric air taxis, not helicopters in its service, according to the companies. Toyota-backed Joby went public in 2021 through a merger with Reinvent Technology Partners, a special purpose acquisition company backed by LinkedIn co-founder Reid Hoffman and Zynga founder Mark Pincus. Under terms of the agreement, Joby is holding back $35 million of the purchase price, which will be released if Blade hits certain performance milestones and retains certain key employees.
Yahoo
7 days ago
- Business
- Yahoo
Blade, Joby stocks rally after companies strike $125 million deal on helicopter ridesharing business
Blade Air Mobility (BLDE) stock rose as much as 30% early Monday after the company struck a deal with Joby Aviation (JOBY) to sell its helicopter passenger rideshare business for $125 million. Joby, which is developing electric air taxi technology, will not take on Blade's medical transport business, which will be spun out into a new public company called Strata Critical Medical. Joby stock rose more than 5% following the news. Blade offers its helicopter rideshare service on a per-seat basis from several different landing spots around New York City. It takes passengers to nearby towns such as the Hamptons or local airports like New Jersey's Newark Liberty International Airport. Blade flew more than 50,000 passengers in 2024 from 12 different terminals, according to Joby's press release. Read more about today's market action. The company, which had a market cap of just over $300 million before the deal was announced Monday morning, went public through a SPAC transaction in 2021 and has not reported an annual profit since. Blade shares are down 11% on the year and down roughly 60% since the company's public market debut. The acquisition will see Blade founder and CEO Rob Wiesenthal stay in charge of Blade's passenger operations as the company becomes a wholly owned subsidiary of Joby, according to Joby's press release. The acquisition comes as $14.4 billion Joby, backed by Toyota (TM), is working toward certification from the Federal Aviation Authority (FAA) for its battery-powered electric vertical takeoff and landing aircraft, or eVTOLs. Joby is planning to have five aircraft in final phases of certification by 2026 as it looks to begin commercial flights early next year, according to Bloomberg, which reported the two sides were exploring a deal over the weekend. Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at
