
Archer Went Public Just 3 Years After Launching and It Paid Off with Adam Goldstein
Building flying taxis takes billions of dollars. So instead of relying on traditional venture rounds, Archer Aviation went public just a few years after it was founded. In this episode of Build Mode, host Isabelle Johannesen sits down with Adam Goldstein, founder and CEO of Archer Aviation, to talk about the unconventional fundraising strategy behind building one of the most capital-intensive startups around. Archer is building electric vertical takeoff and landing aircraft, or eVTOLs, designed to turn trips that can take 90 minutes by car into flights of 10 or 15 minutes. The company is developing the technology for both commercial air taxis and defense applications and has been selected as the exclusive air taxi provider for the 2028 Los Angeles Olympics. But developing and certifying an entirely new category of aircraft requires enormous amounts of capital. Adam explains why he realized early on that raising $50 million or $100 million at a time wouldn’t be enough and why he decided to take Archer public when the company had fewer than 100 employees. Since then, Archer has raised nearly $4 billion. Adam breaks down how he prepared Archer to take advantage of the public markets, why timing matters so much when pursuing an IPO, and how retail investors and online communities have changed the equation for companies building ambitious hardware. He also explains why he thinks the window for earlier-stage companies to access public markets may be opening again. They get into: Why Archer is building electric air taxis How eVTOLs could change airport-to-city transportation Archer’s plans for the 2028 Los Angeles Olympics Why hardware startups need dramatically more capital than software companies Why Adam decided to take Archer public so early How Archer raised nearly $4 billion Why founders need to prepare for an IPO long before they actually pursue one How retail investors have changed the public markets Why liquidity became an important part of Archer’s fundraising strategy What founders need before considering an early public-market debut Why strategic partners can help validate an early-stage company The risks of going public too soon How capital helped Archer catch up with more established competitors Why founders should choose a problem they’re willing to spend decades solving Join us at TechCrunch Disrupt October 13-15 in San Francisco. Use promo code: buildmode25 for 25% off your ticket. Chapters: 00:00 — Why Archer went public so early 01:36 — What Archer Aviation is building 02:21 — Air taxis, defense and the future of eVTOLs 04:05 — Adam’s journey from finance to founder0 6:25 — Why electric aviation became possible 09:29 — Will people actually ride in flying taxis? 11:27 — Archer’s plans for the 2028 LA Olympics 13:50 — Why building hardware requires billions 16:54 — Was going public the right decision? 17:40 — How retail investors changed the public markets 21:46 — How Archer prepared to go public early 24:50 — Is the early IPO window opening again?26:42 — What a startup needs before going public 28:09 — Why Archer chose a SPAC 29:57 — Should first-time founders consider going public? 30:55 — How Archer attracted talent before it had the money 32:48 — Why capital became Archer’s competitive advantage 33:39 — What comes after the exit? 35:25 — Adam’s advice for founders building capital-intensive startups Subscribe to Build Mode on Apple Podcasts, Spotify, or wherever you like to listen. And watch the full videos on YouTube. New episodes of Build Mode drop every Thursday. Hosted by Isabelle Johannesen. Produced and edited by Maggie Nye. Audience development led by Morgan Little. Special thanks to the Foundry and Cheddar video teams.













