How Elio Became a Billion-Dollar Startup in Two Days

Well, that was fast.

Elio Motors, the upstart car company that went public using an update to fundraising rules from the Jumpstart our Business Startups (JOBS) Act, took exactly two trading days to achieve a value of more than a billion dollars.

The jump in the company’s market cap is particularly noteworthy given how many highly valued private companies have seen their private share prices knocked down in recent months, and that the IPO market generally has been quiet in 2016. Elio went public over the summer, raising $17 million from 6, 600 unaccredited investors, using a crowdfunding platform called StartEngine. (An unaccredited investor has a net worth of less than $1 million, or an annual income less than $200, 000.)

About Elio

Elio Motors is an American automaker founded in 2009 by Paul Elio who’s now the CEO of the company that makes the three-wheel vehicle. He has extraordinary plans for the high-mileage, low-cost ($6, 800) and expectations for a superior safety rating.

The vehicle is scheduled for public availability in 2016.

The name Elio, is of Hebrew origin and derived from the nickname Helios. And it means: “My God is Lord” or “God is Good.” – Media say.